Appendices

APPENDIX I Additional information on consolidated subsidiaries and consolidated structured entities composing the BBVA Group

Additional Information on Consolidated Subsidiaries and consolidated structured entities composing the BBVA Group

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying Amount Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
4D INTERNET SOLUTIONS, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 18 18 1 20 (3)
ACTIVOS MACORP, S.L. SPAIN REAL ESTATE 50.63 49.37 100.00 18 24 5 3 (16)
ALCALA 120 PROMOC. Y GEST.IMMOB. S.L. SPAIN REAL ESTATE - 100.00 100.00 15 26 10 14 1
ANIDA DESARROLLOS INMOBILIARIOS, S.L. SPAIN REAL ESTATE - 100.00 100.00 - 284 413 56 (185)
ANIDA GERMANIA IMMOBILIEN ONE, GMBH GERMANY IN LIQUIDATION - 100.00 100.00 - - - - -
ANIDA GRUPO INMOBILIARIO, S.L. (**) SPAIN INVESTMENT COMPANY 100.00 - 100.00 - 2,040 2,689 (161) (488)
ANIDA INMOBILIARIA, S.A. DE C.V. MEXICO INVESTMENT COMPANY - 100.00 100.00 163 116 - 109 7
ANIDA OPERACIONES SINGULARES, S.A. (***) SPAIN REAL ESTATE - 100.00 100.00 - 4,066 4,451 (99) (286)
ANIDA PROYECTOS INMOBILIARIOS, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 91 94 3 84 7
ANIDAPORT INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA PORTUGAL REAL ESTATE - 100.00 100.00 29 87 81 8 (2)
APLICA NEXTGEN OPERADORA S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - - - - -
APLICA NEXTGEN SERVICIOS S.A. DE C.V MEXICO SERVICES - 100.00 100.00 - - - - -
APLICA TECNOLOGIA AVANZADA OPERADORA, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - 8 7 - -
APLICA TECNOLOGIA AVANZADA SERVICIOS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 1 4 3 - -
APLICA TECNOLOGIA AVANZADA, S.A. DE C.V.- ATA MEXICO SERVICES 100.00 - 100.00 203 268 74 181 13
ARIZONA FINANCIAL PRODUCTS, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 816 816 - 816 -
ARRAHONA AMBIT, S.L. SPAIN REAL ESTATE - 100.00 100.00 - 61 49 (37) 48
ARRAHONA IMMO, S.L. SPAIN REAL ESTATE - 100.00 100.00 53 220 76 133 11
ARRAHONA NEXUS, S.L. (****) SPAIN REAL ESTATE - 100.00 100.00 - 199 166 (109) 141
ARRAHONA RENT, S.L.U. SPAIN REAL ESTATE - 100.00 100.00 9 10 - 9 1
ARRELS CT FINSOL, S.A. (****) SPAIN REAL ESTATE - 100.00 100.00 - 264 214 (91) 141
ARRELS CT LLOGUER, S.A. SPAIN REAL ESTATE - 100.00 100.00 1 52 44 (13) 20
ARRELS CT PATRIMONI I PROJECTES, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 74 63 (36) 47
ARRELS CT PROMOU, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 34 23 (12) 23
BAHIA SUR RESORT, S.C. SPAIN INACTIVE 99.95 - 99.95 1 1 - 1 -
BANCO BILBAO VIZCAYA ARGENTARIA (PORTUGAL), S.A. PORTUGAL BANKING 100.00 - 100.00 252 4,029 3,805 220 4
BANCO BILBAO VIZCAYA ARGENTARIA CHILE, S.A. CHILE BANKING - 68.19 68.19 863 19,114 17,848 1,121 145
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY, S.A. URUGUAY BANKING 100.00 - 100.00 110 2,705 2,515 166 24
BANCO CONTINENTAL, S.A. PERU BANKING - 46.12 46.12 910 19,666 17,693 1,597 377
BANCO INDUSTRIAL DE BILBAO, S.A. SPAIN BANKING - 99.93 99.93 97 63 2 (2) 63
BANCO OCCIDENTAL, S.A. SPAIN BANKING 49.43 50.57 100.00 17 18 - 18 -
BANCO PROVINCIAL OVERSEAS N.V. CURACAO BANKING - 100.00 100.00 47 369 324 42 3
BANCO PROVINCIAL S.A. - BANCO UNIVERSAL VENEZUELA BANKING 1.46 53.75 55.21 31 958 877 97 (16)
BANCOMER FINANCIAL SERVICES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2 2 - 2 -
BANCOMER FOREIGN EXCHANGE INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 13 13 - 9 4
BANCOMER PAYMENT SERVICES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1 2 1 1 -
BANCOMER TRANSFER SERVICES, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 54 129 75 43 11
BBV AMERICA, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 79 571 - 599 (28)
BBVA AGENCIA DE SEGUROS COLOMBIA LTDA COLOMBIA INSURANCES SERVICES - 100.00 100.00 - - - - -
BBVA ASESORIAS FINANCIERAS, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 2 3 1 1 1
  • (*) Information on foreign companies at exchange rate on December 31, 2017
  • (**) These companies have equity loans from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
  • (***) This company has an equity loan from ANIDA GRUPO INMOBILIARIO, S.L.
  • (****) These companies have an equity loan from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying Amount Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
BBVA ASSET MANAGEMENT ADMINISTRADORA GENERAL DE FONDOS CHILE FINANCIAL SERVICES - 100.00 100.00 14 18 3 8 6
BBVA ASSET MANAGEMENT CONTINENTAL S.A. SAF PERU FINANCIAL SERVICES - 100.00 100.00 14 16 2 11 4
BBVA ASSET MANAGEMENT, S.A. SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA) COLOMBIA FINANCIAL SERVICES - 100.00 100.00 28 33 5 20 8
BBVA ASSET MANAGEMENT, S.A., SGIIC SPAIN OTHER INVESTMENT 17.00 83.00 100.00 38 114 55 21 38
BBVA AUTOMERCANTIL, COMERCIO E ALUGER DE VEICULOS PORTUGAL FINANCIAL SERVICES 100.00 - 100.00 4 20 15 5 -
BBVA BANCO FRANCES, S.A. ARGENTINA BANKING 39.97 26.58 66.55 157 9,173 8,019 947 207
BBVA BANCOMER GESTION, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 21 37 16 7 15
BBVA BANCOMER OPERADORA, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 45 235 190 38 7
BBVA BANCOMER SEGUROS SALUD, S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 11 19 8 9 2
BBVA BANCOMER SERVICIOS ADMINISTRATIVOS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 28 156 129 16 11
BBVA BANCOMER, S.A.,INSTITUCION DE BANCA MULTIPLE, GRUPO MEXICO BANKING - 100.00 100.00 7,426 82,505 75,075 5,596 1,834
BBVA BRASIL BANCO DE INVESTIMENTO, S.A. BRASIL BANKING 100.00 - 100.00 16 34 4 27 3
BBVA BROKER, CORREDURIA DE SEGUROS Y REASEGUROS, S.A. SPAIN INSURANCES SERVICES 99.94 0.06 100.00 - 17 4 9 5
BBVA BROKER, S.A. ARGENTINA INSURANCES SERVICES - 95.00 95.00 - 5 2 (1) 4
BBVA COLOMBIA, S.A. COLOMBIA BANKING 77.41 18.06 95.47 355 16,164 14,945 1,045 174
BBVA COMPASS BANCSHARES, INC UNITED STATES INVESTMENT COMPANY 100.00 - 100.00 11,703 10,862 35 10,420 406
BBVA COMPASS FINANCIAL CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 217 416 199 220 (3)
BBVA COMPASS INSURANCE AGENCY, INC UNITED STATES INSURANCES SERVICES - 100.00 100.00 28 29 1 21 7
BBVA COMPASS PAYMENTS, INC UNITED STATES INSURANCES SERVICES - 100.00 100.00 69 69 - 54 15
BBVA CONSOLIDAR SEGUROS, S.A. ARGENTINA INSURANCES SERVICES 87.78 12.22 100.00 10 133 85 17 31
BBVA CONSULTING ( BEIJING) LIMITED CHINA FINANCIAL SERVICES - 100.00 100.00 - 2 - 2 -
BBVA CONSULTORIA, S.A. SPAIN SERVICES - 100.00 100.00 4 5 - 5 -
BBVA CONSUMER FINANCE ENTIDAD DE DESARROLLO A LA PEQUEÑA Y MICRO EMPRESA, EDPYME, S.A. (BBVA CONSUMER FINANCE - EDPYME) PERU FINANCIAL SERVICES - 100.00 100.00 18 125 108 17 (1)
BBVA CORREDORA TECNICA DE SEGUROS LIMITADA CHILE INSURANCES SERVICES - 100.00 100.00 7 14 7 (1) 8
BBVA CORREDORES DE BOLSA LIMITADA CHILE SECURITIES DEALER - 100.00 100.00 68 647 579 62 6
BBVA DATA & ANALYTICS, S.L. SPAIN SERVICES - 100.00 100.00 6 4 1 2 -
BBVA DINERO EXPRESS, S.A.U SPAIN PAYMENT ENTITIES 100.00 - 100.00 2 5 2 4 -
BBVA DISTRIBUIDORA DE SEGUROS S.R.L. URUGUAY INSURANCES SERVICES - 100.00 100.00 4 4 - 2 2
BBVA FACTORING LIMITADA (CHILE) CHILE PENSION FUNDS - 100.00 100.00 10 58 48 10 -
BBVA FINANZIA, S.p.A ITALY FINANCIAL SERVICES 100.00 - 100.00 4 15 11 4 -
BBVA FRANCES ASSET MANAGMENT S.A. SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSIÓN. ARGENTINA FINANCIAL SERVICES - 100.00 100.00 12 19 6 2 12
BBVA FRANCES VALORES, S.A. ARGENTINA SECURITIES DEALER - 100.00 100.00 7 10 2 4 3
BBVA FUNDOS, S.GESTORA FUNDOS PENSOES,S.A. PORTUGAL PENSION FUNDS - 100.00 100.00 1 19 1 17 1
BBVA GLOBAL FINANCE LTD. CAYMAN ISLANDS FINANCIAL SERVICES 100.00 - 100.00 - 171 167 4 -
BBVA GLOBAL MARKETS B.V. NETHERLANDS FINANCIAL SERVICES 100.00 - 100.00 - 2,398 2,397 1 -
BBVA INMOBILIARIA E INVERSIONES, S.A. CHILE REAL ESTATE - 68.11 68.11 5 43 36 7 -
BBVA INSTITUIÇAO FINANCEIRA DE CREDITO, S.A. PORTUGAL FINANCIAL SERVICES 49.90 50.10 100.00 40 379 331 45 3
BBVA INTERNATIONAL PREFERRED, S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 36 35 1 -
BBVA INVERSIONES CHILE, S.A. CHILE INVESTMENT COMPANY 61.22 38.78 100.00 483 1,394 100 1,101 193
BBVA IRELAND PLC IRELAND FINANCIAL SERVICES 100.00 - 100.00 180 577 379 191 8
  • (*) Information on foreign companies at exchange rate on December 31, 2017

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying Amount Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
BBVA LEASING MEXICO, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 51 837 717 97 23
BBVA LUXINVEST, S.A. LUXEMBOURG INVESTMENT COMPANY 36.00 64.00 100.00 3 213 209 (64) 68
BBVA MEDIACION OPERADOR DE BANCA-SEGUROS VINCULADO, S.A. SPAIN INSURANCES SERVICES - 100.00 100.00 10 82 51 16 15
BBVA NOMINEES LIMITED UNITED KINGDOM SERVICES 100.00 - 100.00 - - - - -
BBVA OP3N S.L. (**) SPAIN SERVICES - 100.00 100.00 - 2 3 - (1)
BBVA OP3N, INC UNITED STATES SERVICES - 100.00 100.00 2 3 1 7 (5)
BBVA PARAGUAY, S.A. PARAGUAY BANKING 100.00 - 100.00 23 1,784 1,621 132 32
BBVA PENSIONES, SA, ENTIDAD GESTORA DE FONDOS DE PENSIONES SPAIN PENSION FUNDS 100.00 - 100.00 13 53 15 27 11
BBVA PLANIFICACION PATRIMONIAL, S.L. SPAIN FINANCIAL SERVICES 80.00 20.00 100.00 - 1 - 1 -
BBVA PREVISION AFP S.A. ADM.DE FONDOS DE PENSIONES BOLIVIA PENSION FUNDS 75.00 5.00 80,00 1 23 13 4 5
BBVA PROCUREMENT SERVICES AMERICA DEL SUR SpA CHILE SERVICES - 100.00 100.00 6 9 3 6 -
BBVA PROPIEDAD, S.A. SPAIN REAL ESTATE INVESTMENT - 100.00 100.00 874 874 5 921 (51)
BBVA RE DAC IRELAND INSURANCES SERVICES - 100.00 100.00 39 72 23 40 9
BBVA REAL ESTATE MEXICO, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 - - - - -
BBVA RENTAS E INVERSIONES LIMITADA CHILE INVESTMENT COMPANY - 100.00 100.00 294 295 1 229 65
BBVA RENTING, S.A. SPAIN FINANCIAL SERVICES 100.00 - 100.00 90 665 565 95 5
BBVA SECURITIES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 178 368 190 162 16
BBVA SEGUROS COLOMBIA, S.A. COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 10 83 63 13 7
BBVA SEGUROS DE VIDA COLOMBIA, S.A. COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 14 404 289 74 41
BBVA SEGUROS DE VIDA, S.A. CHILE INSURANCES SERVICES - 100.00 100.00 71 201 129 62 10
BBVA SEGUROS, S.A., DE SEGUROS Y REASEGUROS SPAIN INSURANCES SERVICES 99.96 - 99.96 1,039 18,231 16,989 948 294
BBVA SENIOR FINANCE, S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 1,765 1,764 1 -
BBVA SERVICIOS CORPORATIVOS LIMITADA CHILE SERVICES - 100.00 100.00 3 11 8 - 3
BBVA SERVICIOS, S.A. SPAIN COMMERCIAL - 100.00 100.00 - 8 1 7 -
BBVA SOCIEDAD DE LEASING INMOBILIARIO, S.A. CHILE FINANCIAL SERVICES - 97.49 97.49 28 82 53 26 3
BBVA SUBORDINATED CAPITAL S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 121 120 1 -
BBVA SUIZA, S.A. (BBVA SWITZERLAND) SWITZERLAND BANKING 100.00 - 100.00 98 859 753 98 7
BBVA TRADE, S.A. (***) SPAIN INVESTMENT COMPANY - 100.00 100.00 1 42 37 13 (8)
BBVA VALORES COLOMBIA, S.A. COMISIONISTA DE BOLSA COLOMBIA SECURITIES DEALER - 100.00 100.00 4 4 - 5 (1)
BBVA WEALTH SOLUTIONS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 6 6 - 5 1
BEEVA TEC OPERADORA, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - 1 1 - -
BEEVA TEC, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 1 3 2 1 -
BILBAO VIZCAYA HOLDING, S.A. SPAIN INVESTMENT COMPANY 89.90 11.00 100.00 35 227 28 187 12
BLUE INDICO INVESTMENTS, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 21 46 27 17 2
CAIXA MANRESA IMMOBILIARIA ON CASA, S.L. (****) SPAIN REAL ESTATE 100.00 - 100.00 - 2 5 (3) -
CAIXA MANRESA IMMOBILIARIA SOCIAL, S.L. (****) SPAIN REAL ESTATE 100.00 - 100.00 - 4 4 - -
CAIXA TERRASSA SOCIETAT DE PARTICIPACIONS PREFERENTS, S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 1 76 74 2 -
CAIXASABADELL PREFERENTS, S.A. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 91 90 1 -
CAIXASABADELL TINELIA, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 41 42 - 41 -
CARTERA E INVERSIONES S.A., CIA DE SPAIN INVESTMENT COMPANY 100.00 - 100.00 92 55 38 21 (3)
  • (*) Information on foreign companies at exchange rate on December 31, 2017
  • (**) These companies have an equity loan from BILBAO VIZCAYA HOLDING, S.A.
  • (***) These companies have an equity loan from CARTERA E INVERSIONES S.A., CIA DE.
  • (****) These companies have an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying Amount Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
CASA DE BOLSA BBVA BANCOMER, S.A. DE C.V. MEXICO SECURITIES DEALER - 100.00 100.00 46 60 14 14 32
CATALONIA GEBIRA, S.L. SPAIN REAL ESTATE - 100.00 100.00 - 4 4 (4) 4
CATALONIA PROMODIS 4, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 8 8 (5) 5
CATALUNYACAIXA ASSEGURANCES GENERALS, S.A SPAIN 100.00 - 100.00 42 49 23 22 3
CATALUNYACAIXA CAPITAL, S.A. SPAIN INVESTMENT COMPANY 100.00 - 100.00 104 113 10 96 8
CATALUNYACAIXA IMMOBILIARIA, S.A. (**) SPAIN REAL ESTATE 100.00 - 100.00 310 388 94 74 221
CATALUNYACAIXA SERVEIS, S.A. SPAIN SERVICES 100.00 - 100.00 2 9 6 3 -
CDD GESTIONI, S.R.L. ITALY 100.00 - 100.00 5 6 - 6 -
CETACTIUS, S.L. (**) SPAIN REAL ESTATE 100.00 - 100.00 - 2 22 (20) (1)
CIDESSA DOS, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 15 15 1 15 -
CIDESSA UNO, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 5 199 84 75 40
CIERVANA, S.L. SPAIN 100.00 - 100.00 53 61 - 60 -
CLUB GOLF HACIENDA EL ALAMO, S.L. SPAIN REAL ESTATE - 97.87 97.87 - - - - -
COMERCIALIZADORA CORPORATIVA SAC PERU FINANCIAL SERVICES - 50.00 50.00 - 1 1 - -
COMERCIALIZADORA DE SERVICIOS FINANCIEROS, S.A. COLOMBIA SERVICES - 100.00 100.00 3 9 6 2 1
COMPAÑIA CHILENA DE INVERSIONES, S.L. SPAIN 99.97 0.03 100.00 580 920 339 442 139
COMPASS BANK UNITED STATES BANKING - 100.00 100.00 10,083 76,898 66,816 9,708 375
COMPASS CAPITAL MARKETS, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 6,789 6,789 - 6,729 60
COMPASS GP, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 41 51 10 41 -
COMPASS INSURANCE TRUST UNITED STATES - 100.00 100.00 - - - - -
COMPASS LIMITED PARTNER, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 5,932 5,932 - 5,873 59
COMPASS LOAN HOLDINGS TRS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 68 68 - 67 -
COMPASS MORTGAGE CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2,661 2,720 59 2,607 54
COMPASS MORTGAGE FINANCING, INC. UNITED STATES - 100.00 100.00 - - - - -
COMPASS SOUTHWEST, LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 4,906 4,907 - 4,847 59
COMPASS TEXAS MORTGAGE FINANCING, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
CONSOLIDAR A.F.J.P., S.A. ARGENTINA IN LIQUIDATION 46.11 53.89 100.00 - 2 1 - -
CONTENTS AREA, S.L. SPAIN - 100.00 100.00 6 7 1 6 -
CONTINENTAL BOLSA, SDAD. AGENTE DE BOLSA, S.A. PERU SECURITIES DEALER - 100.00 100.00 5 11 6 4 1
CONTINENTAL DPR FINANCE COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - 63 63 - -
CONTINENTAL SOCIEDAD TITULIZADORA, S.A. PERU FINANCIAL SERVICES - 100.00 100.00 1 1 - 1 -
CONTRATACION DE PERSONAL, S.A. DE C.V. MEXICO - 100.00 100.00 5 9 4 4 1
COPROMED S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - - - - -
CORPORACION GENERAL FINANCIERA, S.A. SPAIN INVESTMENT COMPANY 100.00 - 100.00 510 1,821 140 1,448 232
COVAULT, INC UNITED STATES SERVICES - 100.00 100.00 - - - - -
CX PROPIETAT, FII SPAIN 94.96 - 94.96 48 51 - 60 (9)
DALLAS CREATION CENTER, INC UNITED STATES SERVICES - 100.00 100.00 - 6 6 3 (3)
DATA ARCHITECTURE AND TECHNOLOGY S.L. SPAIN SERVICES - 51.00 51.00 - 5 3 - 2
  • (*) Information on foreign companies at exchange rate on December 31, 2017
  • (**) These companies have an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
DENIZEN FINANCIAL, INC UNITED STATES SERVICES - 100.00 100.00 1 1 - 1 -
DEUTSCHE BANK MEXICO SA FIDEICOMISO F/1859 MEXICO FINANCIAL SERVICES - 100.00 100.00 - 15 15 - -
DEUTSCHE BANK MEXICO SA FIDEICOMISO F/1860 MEXICO FINANCIAL SERVICES - 100.00 100.00 - 14 14 - -
DISTRITO CASTELLANA NORTE, S.A. SPAIN REAL ESTATE - 75.54 75.54 86 128 14 116 (3)
ECASA, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 19 22 3 12 7
EL ENCINAR METROPOLITANO, S.A. SPAIN REAL ESTATE - 99.05 99.05 6 7 - 6 -
EL MILANILLO, S.A. (**) SPAIN REAL ESTATE - 100.00 100.00 10 8 1 7 -
EMPRENDIMIENTOS DE VALOR S.A. URUGUAY FINANCIAL SERVICES - 100.00 100.00 3 7 4 3 -
ENTIDAD DE PROMOCION DE NEGOCIOS, S.A. SPAIN OTHER HOLDING - 99.86 99.86 15 19 - 19 -
ENTRE2 SERVICIOS FINANCIEROS, E.F.C., S.A. SPAIN FINANCIAL SERVICES 100.00 - 100.00 9 9 - 9 -
ESPAIS SABADELL PROMOCIONS INMOBILIARIES, S.A. SPAIN REAL ESTATE - 100.00 100.00 7 8 - 8 -
EUROPEA DE TITULIZACION, S.A., S.G.F.T. SPAIN FINANCIAL SERVICES 88.24 - 88.24 2 43 2 38 4
EXPANSION INTERCOMARCAL, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 29 29 - 26 3
F/11395 FIDEICOMISO IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION MEXICO REAL ESTATE - 42.40 42.40 1 1 - 1 -
F/253863 EL DESEO RESIDENCIAL MEXICO REAL ESTATE - 65.00 65.00 - 1 - 1 -
F/403035-9 BBVA HORIZONTES RESIDENCIAL MEXICO REAL ESTATE - 65.00 65.00 - - - - -
FIDEICOMISO 28991-8 TRADING EN LOS MCADOS FINANCIEROS MEXICO FINANCIAL SERVICES - 100.00 100.00 2 2 - 2 -
FIDEICOMISO F/29764-8 SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS MEXICO FINANCIAL SERVICES - 100.00 100.00 52 52 - 48 4
FIDEICOMISO F/403112-6 DE ADMINISTRACION DOS LAGOS MEXICO REAL ESTATE - 100.00 100.00 1 1 - 1 -
FIDEICOMISO HARES BBVA BANCOMER F/ 47997-2 MEXICO OTHER HOLDING - 100.00 100.00 14 17 2 13 1
FIDEICOMISO LOTE 6.1 ZARAGOZA COLOMBIA REAL ESTATE - 59.99 59.99 - 2 - 2 -
FIDEICOMISO N.989, EN THE BANK OF NEW YORK MELLON, S.A. INSTITUCION DE BANCA MULTIPLE, FIDUCIARIO (FIDEIC.00989 6 EMISION) MEXICO FINANCIAL SERVICES - 100.00 100,00 - 90 90 (5) 5
FIDEICOMISO Nº 711, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 1ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 17 18 - -
FIDEICOMISO Nº 752, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 2ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 9 9 - -
FIDEICOMISO Nº 847, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 4ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 48 48 (1) 1
FIDEICOMISO SCOTIABANK INVERLAT S A F100322908 MEXICO REAL ESTATE - 100.00 100.00 7 14 8 8 (1)
FINANCEIRA DO COMERCIO EXTERIOR S.A.R. PORTUGAL INACTIVE 100.00 - 100.00 - - - - -
FINANCIERA AYUDAMOS S.A. DE C.V., SOFOMER MEXICO FINANCIAL SERVICES - 100.00 100.00 20 23 3 12 8
FODECOR, S.L. SPAIN REAL ESTATE - 60.00 60.00 - 1 - - -
FORUM COMERCIALIZADORA DEL PERU, S.A. PERU SERVICES - 100.00 100.00 2 1 - 1 -
FORUM DISTRIBUIDORA DEL PERU, S.A. PERU FINANCIAL SERVICES - 100.00 100.00 5 26 21 4 1
FORUM DISTRIBUIDORA, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 37 304 269 30 5
FORUM SERVICIOS FINANCIEROS, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 223 2.550 2.342 151 57
FUTURO FAMILIAR, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 1 3 2 1 -
G NETHERLANDS BV NETHERLANDS INVESTMENT COMPANY - 100.00 100.00 340 346 46 302 (2)
GARANTI BANK SA ROMANIA BANKING - 100.00 100.00 269 2,156 1,881 250 26
GARANTI BILISIM TEKNOLOJISI VE TIC. TAS TURKEY SERVICES - 100.00 100.00 23 18 3 13 2
GARANTI DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - 3,393 3,393 - -
GARANTI EMEKLILIK VE HAYAT AS TURKEY INSURANCES SERVICES - 84.91 84.91 308 499 140 282 78
GARANTI FACTORING HIZMETLERI AS TURKEY FINANCIAL SERVICES - 81.84 81.84 38 760 713 40 7
  • (*) Information on foreing companies exchange rate on December 31 2017
  • (**) This company has an equity loan from ANIDA OPERACIONES SINGULARES, S.A.

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
GARANTI FILO SIGORTA ARACILIK HIZMETLERI A.S. TURKEY INSURANCES SERVICES - 100.00 100.00 - - - - -
GARANTI FILO YONETIM HIZMETLERI A.S. TURKEY SERVICES - 100.00 100.00 2 398 391 2 5
GARANTI FINANSAL KIRALAMA A.S. TURKEY FINANCIAL SERVICES - 100.00 100.00 208 1,199 990 203 5
GARANTI HIZMET YONETIMI A.S TURKEY FINANCIAL SERVICES - 100.00 100.00 - 1 - 1 -
GARANTI HOLDING BV NETHERLANDS INVESTMENT COMPANY - 100.00 100.00 229 340 - 340 -
GARANTI KONUT FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE) TURKEY SERVICES - 100.00 100.00 - 1 - - -
GARANTI KULTUR AS TURKEY SERVICES - 100.00 100.00 - 1 - - -
GARANTI ODEME SISTEMLERI A.S.(GOSAS) TURKEY FINANCIAL SERVICES - 100.00 100.00 - 8 5 3 -
GARANTI PORTFOY YONETIMI AS TURKEY FINANCIAL SERVICES - 100.00 100.00 16 18 3 11 5
GARANTI YATIRIM MENKUL KIYMETLER AS TURKEY FINANCIAL SERVICES - 100.00 100.00 26 40 14 14 12
GARANTI YATIRIM ORTAKLIGI AS TURKEY INVESTMENT COMPANY - 3.30 99.97 - 8 - 7 1
GARANTIBANK INTERNATIONAL NV NETHERLANDS BANKING - 100.00 100.00 591 4,267 3,678 563 26
GARRAF MEDITERRANIA, S.A. (**) SPAIN REAL ESTATE - 100.00 100.00 1 2 1 - 1
GESCAT LLEVANT, S.L. (***) SPAIN REAL ESTATE - 100.00 100.00 1 5 4 (2) 3
GESCAT LLOGUERS, S.L. (***) (****) SPAIN REAL ESTATE 100.00 - 100.00 - 9 20 (10) (1)
GESCAT POLSKA, SP. ZOO POLAND REAL ESTATE 100.00 - 100.00 9 9 - 12 (3)
GESCAT SINEVA, S.L. SPAIN REAL ESTATE - 100.00 100.00 6 6 - (1) 7
GESCAT, GESTIO DE SOL, S.L. (****) SPAIN REAL ESTATE 100.00 - 100.00 - 29 46 (22) 5
GESCAT, VIVENDES EN COMERCIALITZACIO, S.L. (***) (****) SPAIN REAL ESTATE 100.00 - 100.00 - 182 590 (393) (15)
GESTION DE PREVISION Y PENSIONES, S.A. SPAIN PENSION FUNDS 60.00 - 60.00 9 29 3 21 6
GESTION Y ADMINISTRACION DE RECIBOS, S.A. - GARSA SPAIN SERVICES - 100.00 100.00 1 2 1 2 -
GRAN JORGE JUAN, S.A. SPAIN REAL ESTATE 100.00 - 100.00 395 983 588 381 14
GRUPO FINANCIERO BBVA BANCOMER, S.A. DE C.V. MEXICO FINANCIAL SERVICES 99.98 - 99.98 6,678 8,337 1 6,200 2,136
GUARANTY BUSINESS CREDIT CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 31 31 - 31 -
GUARANTY PLUS HOLDING COMPANY UNITED STATES INVESTMENT COMPANY - 100.00 100.00 - - - 2 (2)
GUARANTY PLUS PROPERTIES LLC-2 UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
GUARANTY PLUS PROPERTIES, INC-1 UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
HABITATGES FINVER, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 - 3 1 (1) 2
HABITATGES INVERVIC, S.L. SPAIN REAL ESTATE - 35.00 35.00 - - - (14) 14
HABITATGES JUVIPRO, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 - 1 1 - 1
HOLAMUNO AGENTE DE SEGUROS VINCULADO, S.L.U. (****) SPAIN INSURANCES SERVICES - 100.00 100.00 - 1 1 - (1)
HOLVI PAYMENT SERVICE OY FINLAND FINANCIAL SERVICES - 100.00 100.00 22 5 1 10 (6)
HOMEOWNERS LOAN CORPORATION UNITED STATES IN LIQUIDATION - 100.00 100.00 7 8 1 7 -
HUMAN RESOURCES PROVIDER, INC UNITED STATES SERVICES - 100.00 100.00 365 366 - 362 4
HUMAN RESOURCES SUPPORT, INC UNITED STATES SERVICES - 100.00 100.00 361 361 - 358 3
INFORMACIO I TECNOLOGIA DE CATALUNYA, S.L. SPAIN SERVICES 76.00 - 76.00 - 6 5 1 -
INMESP DESARROLLADORA, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 24 33 8 24 -
INMUEBLES Y RECUPERACIONES CONTINENTAL S.A PERU REAL ESTATE - 100.00 100.00 39 40 2 37 2
INPAU, S.A. SPAIN REAL ESTATE - 100.00 100.00 25 25 - 2 24
INVERAHORRO, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 10 91 82 13 (4)
  • (*)Information on foreign companies at exchange rate on December 31, 2017
  • (**) This company has an equity loan from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A.
  • (***) These companies have an equity loan from CATALUNYACAIXA IMMOBILIARIA, S.A.
  • (****) These companies have an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
INVERPRO DESENVOLUPAMENT, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 3 7 4 3 -
INVERSIONES ALDAMA, C.A. VENEZUELA IN LIQUIDATION - 100.00 100.00 - - - - -
INVERSIONES BANPRO INTERNATIONAL INC. N.V. CURAÇAO INVESTMENT COMPANY 48.00 - 48.00 16 50 2 45 3
INVERSIONES BAPROBA, C.A. VENEZUELA FINANCIAL SERVICES 100.00 - 100.00 1 - - - -
INVERSIONES DE INNOVACION EN SERVICIOS FINANCIEROS, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 41 42 1 40 1
INVERSIONES P.H.R.4, C.A. VENEZUELA INACTIVE - 60.46 60.46 - - - - -
IRIDION SOLUCIONS IMMOBILIARIES, S.L. (**) SPAIN REAL ESTATE 100.00 - 100.00 - 2 131 (125) (4)
JALE PROCAM, S.L. SPAIN REAL ESTATE - 50.00 50.00 - 4 53 (47) (2)
L'EIX IMMOBLES, S.L. (***) SPAIN REAL ESTATE - 100.00 100.00 - 14 21 (7) (1)
LIQUIDITY ADVISORS, L.P UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,051 1,053 2 1,053 (2)
MADIVA SOLUCIONES, S.L. SPAIN SERVICES - 100.00 100.00 5 2 1 1 -
MICRO SPINAL LLC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
MISAPRE, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 2 2 - 2 -
MOMENTUM SOCIAL INVESTMENT HOLDING, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 7 7 - 7 -
MOTORACTIVE IFN SA ROMANIA FINANCIAL SERVICES - 100.00 100.00 37 176 151 22 3
MOTORACTIVE MULTISERVICES SRL ROMANIA SERVICES - 100.00 100.00 - 15 15 - -
MULTIASISTENCIA OPERADORA S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 - 1 1 - -
MULTIASISTENCIA SERVICIOS S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 - - - 1 -
MULTIASISTENCIA, S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 19 31 12 13 6
NEWCO PERU S.A.C. PERU INVESTMENT COMPANY 100.00 - 100.00 124 917 - 744 173
NOET, INC. UNITED STATES SERVICES - 100.00 100.00 2 2 1 4 (2)
NOIDIRI, S.L. (**) SPAIN REAL ESTATE 100.00 - 100.00 - - 12 (11) -
NOVA TERRASSA 3, S.L. SPAIN REAL ESTATE - 100.00 100.00 4 4 - 4 -
OPCION VOLCAN, S.A. MEXICO REAL ESTATE - 100.00 100.00 19 20 2 14 5
OPENPAY S.A.P.I DE C.V. MEXICO PAYMENT ENTITIES - 100.00 100.00 15 1 - 1 -
OPENPAY SERVICIOS S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - - - - -
OPERADORA DOS LAGOS S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - 1 - - -
OPPLUS OPERACIONES Y SERVICIOS, S.A. SPAIN SERVICES 100.00 - 100.00 1 35 11 19 5
OPPLUS S.A.C (En liquidación) PERU IN LIQUIDATION - 100.00 100.00 1 1 - 1 -
P.I. HOLDINGS GPP, LLC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
PARCSUD PLANNER, S.L. (***) SPAIN REAL ESTATE - 100.00 100.00 - 7 6 (3) 3
PARTICIPACIONES ARENAL, S.L. SPAIN INACTIVE - 100.00 100.00 6 8 2 6 -
PECRI INVERSION S.L. SPAIN OTHER INVESTMENT 100.00 - 100.00 99 99 - 100 (2)
PENSIONES BBVA BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER MEXICO INSURANCES SERVICES - 100.00 100.00 159 4,059 3,900 113 46
PHOENIX LOAN HOLDINGS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 259 278 19 254 5
PI HOLDINGS NO. 1, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 79 79 - 79 -
PI HOLDINGS NO. 3, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1 1 - 1 -
PORTICO PROCAM, S.L. SPAIN REAL ESTATE - 100.00 100.00 25 25 - 25 -
PROCAMVASA, S.A. SPAIN REAL ESTATE - 51.00 51.00 - - - - -
PROMOCION EMPRESARIAL XX, S.A. SPAIN INVESTMENT COMPANY 100.00 - 100.00 8 8 - 8 -
  • (*) Information on foreign companies at exchange rate on December 31, 2017
  • (**) These companies have an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
  • (***) These companies have an equity loan from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
PROMOCIONES Y CONSTRUCCIONES CERBAT, S.L.U. SPAIN REAL ESTATE - 100.00 100.00 9 25 - 25 -
PROMOTORA DEL VALLES, S.L. SPAIN REAL ESTATE - 100.00 100.00 - 135 117 (106) 123
PROMOU CT 3AG DELTA, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 1 11 10 (3) 3
PROMOU CT EIX MACIA, S.L. SPAIN REAL ESTATE - 100.00 100.00 4 5 1 4 1
PROMOU CT GEBIRA, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 - 9 9 (3) 3
PROMOU CT OPENSEGRE, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 4 30 26 (18) 22
PROMOU CT VALLES, S.L. SPAIN PAYMENT INSTITUIONS - 100.00 100.00 2 9 7 2 1
PROMOU GLOBAL, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 6 71 67 (30) 35
PRONORTE UNO PROCAM, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 5 4 (10) 11
PROPEL VENTURE PARTNERS GLOBAL, S.L SPAIN FINANCIAL SERVICES - 99.50 99.50 31 35 2 32 1
PROPEL VENTURE PARTNERS US FUND I, L.P. UNITED STATES VENTURE CAPITAL - 100.00 100.00 41 41 - 34 7
PRO-SALUD, C.A. VENEZUELA INACTIVE - 58.86 58.86 - - - - -
PROVINCIAL DE VALORES CASA DE BOLSA, C.A. VENEZUELA SECURITIES DEALER - 90.00 90.00 - - - - -
PROVINCIAL SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA, C.A. VENEZUELA FINANCIAL SERVICES - 100.00 100.00 - - - - -
PROV-INFI-ARRAHONA, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 5 17 12 (4) 9
PROVIVIENDA ENTIDAD RECAUDADORA Y ADMIN.DE APORTES, S.A. BOLIVIA PENSION FUNDS - 100.00 100.00 2 7 5 2 -
PUERTO CIUDAD LAS PALMAS, S.A. SPAIN REAL ESTATE - 96.64 96.64 - 31 57 (26) -
QIPRO SOLUCIONES S.L. SPAIN SERVICES - 100.00 100.00 5 13 3 9 2
RALFI IFN SA ROMANIA FINANCIAL SERVICES - 100.00 100.00 39 128 110 13 4
RENTRUCKS, ALQUILER Y SERVICIOS DE TRANSPORTE, S.A. SPAIN INACTIVE 100.00 - 100.00 1 2 - 1 -
RESIDENCIAL CUMBRES DE SANTA FE, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 14 14 - 13 1
RPV COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - 1,384 1,384 - -
RWHC, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 692 692 - 676 16
SATICEM GESTIO, S.L. (***) SPAIN REAL ESTATE 100.00 - 100.00 - 11 93 (81) (1)
SATICEM HOLDING, S.L. SPAIN REAL ESTATE 100.00 - 100.00 5 5 - 6 -
SATICEM IMMOBILIARIA, S.L. SPAIN REAL ESTATE 100.00 - 100.00 20 20 - 19 1
SATICEM IMMOBLES EN ARRENDAMENT, S.L. (***) SPAIN REAL ESTATE 100.00 - 100.00 - 26 88 (59) (3)
SCALDIS FINANCE, S.A. BELGIUM INVESTMENT COMPANY - 100.00 100.00 4 18 - 18 -
SEGUROS BBVA BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER MEXICO INSURANCES SERVICES - 100.00 100.00 304 3,095 2,791 119 185
SEGUROS PROVINCIAL, C.A. VENEZUELA INSURANCES SERVICES - 100.00 100.00 - - - 1 -
SERVICIOS CORPORATIVOS BANCOMER, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 4 6 1 4 1
SERVICIOS CORPORATIVOS DE SEGUROS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 2 14 12 1 1
SERVICIOS EXTERNOS DE APOYO EMPRESARIAL, S.A DE C.V. MEXICO SERVICES - 100.00 100.00 8 21 13 6 2
SERVICIOS TECNOLOGICOS SINGULARES, S.A. SPAIN SERVICES - 100.00 100.00 1 1 - 1 -
SIMPLE FINANCE TECHNOLOGY CORP. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 51 64 13 88 (37)
SOCIEDAD DE ESTUDIOS Y ANALISIS FINANCIERO.,S.A. SPAIN SERVICES 100.00 - 100.00 81 90 9 84 (2)
SOCIEDAD GESTORA DEL FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO, S.A. SPAIN INACTIVE 77.20 - 77.20 - - - - -
SPORT CLUB 18, S.A. (***) SPAIN INVESTMENT COMPANY 100.00 - 100.00 11 13 - 14 (1)
TEXAS LOAN SERVICES, LP. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,061 1,063 2 1,062 (1)
  • (*) Information on foreign companies at exchange rate on December 31, 2017
  • (**) This company has an equity loan from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A.
  • (****) These companies have an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

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Additional Information on Consolidated Subsidiaries and structured entities composing the BBVA Group (Continued)

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
TMF HOLDING INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 13 20 7 13 1
TRIFOI REAL ESTATE SRL ROMANIA REAL ESTATE - 100.00 100.00 1 1 - 1 -
TUCSON LOAN HOLDINGS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 43 43 - 41 2
TURKIYE GARANTI BANKASI A.S TURKEY BANKING 49.85 - 49.85 7,026 70,803 61,635 7,629 1,539
UNITARIA GESTION DE PATRIMONIOS INMOBILIARIOS SPAIN REAL ESTATE - 100.00 100.00 2 3 - 3 -
UNIVERSALIDAD TIPS PESOS E-9 COLOMBIA                             FINANCIAL SERVICES - 100.00 100.00 - 53 24 27 1
UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A. (**) SPAIN REAL ESTATE 100.00 - 100.00 - 956 1,270 (161) (153)
UPTURN FINANCIAL INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
URBANIZADORA SANT LLORENC, S.A. SPAIN INACTIVE 60.60 - 60.60 - - - - -
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS S.L. SPAIN SERVICES - 51.00 51.00 - 2 2 - -
VOLJA LUX, SARL LUXEMBOURG INVESTMENT COMPANY - 71.78 71.78 - 2 - - 1
VOLJA PLUS SL SPAIN INVESTMENT COMPANY 75.40 - 75.40 1 2 - 2 -
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA S.A. ARGENTINA FINANCIAL SERVICES - 51.00 51.00 13 226 200 23 3
  • (*) Information on foreign companies at exchange rate on December 31, 2017
  • (**) This company has an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

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APPENDIX II Additional information on investments joint ventures and associates in the BBVA Group

% Legal share of participation Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets 31.12.17 Liabilities 31.12.17 Equity 31.12.17 Profit (Loss) 31.12.17
ASSOCIATES
ADQUIRA ESPAÑA, S.A. SPAIN COMMERCIAL - 40.00 40.00 3 18 11 6 1
ATOM BANK PLC UNITED KINGDOM BANKING 29.90 - 29.90 66 1,334 1,162 226 (54)
AUREA, S.A. (CUBA) CUBA REAL ESTATE - 49.00 49.00 4 9 - 8 -
BANK OF HANGZHOU CONSUMER FINANCE CO LTD CHINA BANKING 30.00 - 30.00 18 214 156 63 (5)
CANCUN SUN & GOLF COUNTRY CLUB, S.A.P.I. DE C.V. MEXICO REAL ESTATE - 33.33 33.33 26 72 22 50 1
COMPAÑIA ESPAÑOLA DE FINANCIACION DEL DESARROLLO S.A. SPAIN FINANCIAL SERVICES 16.67 - 16.67 21 129 5 116 8
COMPAÑIA PERUANA DE MEDIOS DE PAGO S.A.C. (VISANET PERU) PERU ELECTRONIC MONEY ENTITIES - 20.28 20.28 2 38 28 3 7
FIDEICOMISO F/00185 FIMPE - FIDEICOMISO F/00185 PARA EXTENDER A LA SOCIEDAD LOS BENEFICIOS DEL ACCESO A LA INFRAESTRUCTURA DE LOS MEDIOS DE PAGO ELECTRONICOS MEXICO FINANCIAL SERVICES - 28.50 28.50 3 11 - 13 (1)
METROVACESA SUELO Y PROMOCION, S.A. SPAIN REAL ESTATE 9.44 19.07 28.51 697 2,479 82 2,413 (16)
REDSYS SERVICIOS DE PROCESAMIENTO, S.L. SPAIN FINANCIAL SERVICES 20.00 0.00 20.00 10 130 80 41 8
ROMBO COMPAÑIA FINANCIERA, S.A. ARGENTINA BANKING - 40.00 40.00 15 390 354 32 3
SERVICIOS ELECTRONICOS GLOBALES, S.A. DE C.V. MEXICO SERVICES - 46.14 46.14 6 13 - 11 2
SERVIRED SOCIEDAD ESPAÑOLA DE MEDIOS DE PAGO, S.A. SPAIN FINANCIAL SERVICES 28.72 0.00 28.72 9 41 8 29 3
TELEFONICA FACTORING ESPAÑA, S.A. SPAIN FINANCIAL SERVICES 30.00 - 30.00 4 48 34 7 7
TESTA RESIDENCIAL SOCIMI SAU SPAIN REAL ESTATE 3.88 22.98 26.86 444 2,307 662 1,594 51
JOINT VENTURES
ADQUIRA MEXICO, S.A. DE C.V. (*) MEXICO COMMERCIAL - 50.00 50.00 2 5 2 3 -
ALTURA MARKETS, SOCIEDAD DE VALORES, S.A. (*) SPAIN SECURITIES DEALER 50.00 - 50.00 64 1,953 1,826 120 7
AVANTESPACIA INMOBILIARIA, S.L.(*) SPAIN REAL ESTATE - 30.01 30.01 18 77 18 60 (1)
COMPAÑIA MEXICANA DE PROCESAMIENTO, S.A. DE C.V. (*) MEXICO SERVICES - 50.00 50.00 6 13 - 11 1
CORPORACION IBV PARTICIPACIONES EMPRESARIALES, S.A. (*) SPAIN INVESTMENT COMPANY - 50.00 50.00 29 63 6 58 -
DESARROLLOS METROPOLITANOS DEL SUR, S.L.(*) SPAIN REAL ESTATE - 50.00 50.00 12 59 34 25 (1)
FERROMOVIL 3000, S.L.(*) SPAIN SERVICES - 20.00 20.00 4 455 431 25 (1)
FERROMOVIL 9000, S.L. (*) SPAIN SERVICES - 20.00 20.00 3 294 276 19 (1)
FIDEICOMISO 1729 INVEX ENAJENACION DE CARTERA (*) MEXICO REAL ESTATE - 32.25 32.25 53 163 - 163 -
FIDEICOMISO F 403853- 5 BBVA BANCOMER SERVICIOS ZIBATA (*) MEXICO REAL ESTATE - 30.00 30.00 27 146 49 90 6
FIDEICOMISO F/402770-2 ALAMAR (*) MEXICO REAL ESTATE - 42.40 42.40 7 17 - 17 -
INVERSIONES PLATCO, C.A. (*) VENEZUELA FINANCIAL SERVICES - 50.00 50.00 2 5 1 7 (3)
PARQUE RIO RESIDENCIAL, S.L. (*) SPAIN REAL ESTATE - 50.00 50.00 10 32 12 20 -
PROMOCIONS TERRES CAVADES, S.A.(*) SPAIN REAL ESTATE - 39.11 39.11 4 15 - 15 -
PSA FINANCE ARGENTINA COMPAÑIA FINANCIERA, S.A.(*) ARGENTINA BANKING - 50.00 50.00 14 225 197 20 8
RCI COLOMBIA S.A., COMPAÑIA DE FINANCIAMIENTO (*) COLOMBIA FINANCIAL SERVICES - 49.00 49.00 19 280 241 39 -
REAL ESTATE DEAL II, S.A. (*) SPAIN IN LIQUIDATION 20.06 - 20.06 4 18 - 18 -
VITAMEDICA ADMINISTRADORA, S.A. DE C.V (*) MEXICO SERVICES - 51.00 51.00 3 12 6 4 2
  • (*) Joint ventures incorporated by the equity method.
  • (**) In foreign companies the exchange rate of December 31, 2017 is applied.

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APPENDIX III Changes and notification of participations in the BBVA Group in 2017

Acquisitions or Increases of Interest Ownership in Consolidated Subsidiaries

Millions of Euros % of Voting Rights
Company Type of Transaction Activity Price Paid in the Transactions + Expenses directly attributable to the Transactions Fair Value of Equity Instruments issued for the Transactions % Participation (net) Acquired in the Period Total Voting Rights Controlled after the Transactions Effective Date for the Transaction (or Notification Date) Category
EUROPEA DE TITULIZACION, S.A., S.G.F.T. ACQUISITION FINANCIAL SERVICES - - 0.38% 88.24% 16-Mar-17 SUBSIDIARY
COMPASS INSURANCE TRUST WILLMINGTON, DE FOUNDING INSURANCES SERVICES - - 100.00% 100.00% 30-Jun-17 SUBSIDIARY
P.I.HOLDINGS GPP, LLC FOUNDING FINANCIAL SERVICES - - 100.00% 100.00% 30-Jun-17 SUBSIDIARY
MICRO SPINAL LLC FOUNDING FINANCIAL SERVICES - - 100.00% 100.00% 30-Jun-17 SUBSIDIARY
HOLAMUNO AGENTE DE SEGUROS VINCULADO, S.L.U. FOUNDING INSURANCES SERVICES - - 100.00% 100.00% 22-Feb-17 SUBSIDIARY
F/11395 FIDEICOMISO IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION FOUNDING REAL ESTATE - - 42.40% 42.40% 1-Feb-17 SUBSIDIARY
DENIZEN FINANCIAL, INC FOUNDING SERVICES - - 100.00% 100.00% 24-Feb-17 SUBSIDIARY
OPENPAY S.A.P.I DE C.V. ACQUISITION PAYMENT ENTITIES 225 - 100.00% 100.00% 28-Apr-17 SUBSIDIARY
BBVA AGENCIA DE SEGUROS COLOMBIA LTDA FOUNDING INSURANCES SERVICES - - 100.00% 100.00% 28-Apr-17 SUBSIDIARY
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS S.L. FOUNDING SERVICES - - 51.00% 51.00% 29-May-17 SUBSIDIARY
TURKIYE GARANTI BANKASI A.S ACQUISITION BANKING 720,801 - 9.95% 49.85% 22-Mar-17 SUBSIDIARY
CX PROPIETAT, FII ACQUISITION REAL ESTATE INVESTMENT FUND - - 27.02% 94.96% 30-Nov-17 SUBSIDIARY
PROPEL VENTURE PARTNERS GLOBAL, S.L FOUNDING FINANCIAL SERVICES 961 - 99.50% 99.50% 20-Jul-17 SUBSIDIARY
COVAULT, INC FOUNDING SERVICES - - 100.00% 100.00% 8-Jun-17 SUBSIDIARY
APLICA NEXTGEN SERVICIOS S.A. DE C.V FOUNDING SERVICES - - 100.00% 100.00% 16-Nov-17 SUBSIDIARY
APLICA NEXTGEN OPERADORA S.A. DE C.V. FOUNDING SERVICES - - 100.00% 100.00% 16-Nov-17 SUBSIDIARY
UPTURN FINANCIAL INC FOUNDING FINANCIAL SERVICES - - 100.00% 100.00% 25-Oct-17 SUBSIDIARY
OPENPAY SERVICIOS S.A. DE C.V. FOUNDING SERVICES - - 100.00% 100.00% 29-Nov-17 SUBSIDIARY
INFORMACIO I TECNOLOGIA DE CATALUNYA, S.L. ACQUISITION SERVICES - - 26.00% 76.00% 27-Dec-17 SUBSIDIARY
GARANTI HIZMET YONETIMI A.S ACQUISITION FINANCIAL SERVICES - - 0.60% 100.00% 30-Nov-17 SUBSIDIARY

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Disposals or Reduction of Interest Ownership in Consolidated Subsidiaries

Millions of Euros % of Voting Rights
Company Type of Transaction Activity Profit (Loss) in the Transaction Changes in the Equity due to the transaction % Participation Sold in the Period Total Voting Rights Controlled after the Disposal Effective Date for the Transaction (or Notification Date) Category
ESPANHOLA COMERCIAL E SERVIÇOS, LTDA. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 30-Apr-17 SUBSIDIARY
BBVA COMERCIALIZADORA LTDA. LIQUIDATION BANKING - - 100.00% - 31-Mar-17 SUBSIDIARY
BETESE S.A DE C.V. MERGER INVESTMENT COMPANY - - 100.00% - 15-Feb-17 SUBSIDIARY
HIPOTECARIA NACIONAL, S.A. DE C.V. MERGER FINANCIAL SERVICES - - 100.00% - 15-Feb-17 SUBSIDIARY
TEXTIL TEXTURA, S.L. DISPOSAL COMMERCIAL - - 68.67% - 1-Jun-17 SUBSIDIARY
VALANZA CAPITAL S.A. UNIPERSONAL LIQUIDATION SERVICES (23) - 100.00% - 10-Mar-17 SUBSIDIARY
DESITEL TECNOLOGIA Y SISTEMAS, S.A. DE C.V. MERGER SERVICES - - 100.00% - 15-Feb-17 SUBSIDIARY
APLICA SOLUCIONES TECNOLOGICAS CHILE LIMITADA LIQUIDATION SERVICES - - 100.00% - 24-Mar-17 SUBSIDIARY
BBVA PARTICIPACIONES MEJICANAS, S.L. LIQUIDATION INVESTMENT COMPANY - - 100.00% - 4-Apr-17 SUBSIDIARY
COMPASS MULTISTATE SERVICES CORPORATION LIQUIDATION SERVICES - - 100.00% - 1-Jun-17 SUBSIDIARY
COMPASS INVESTMENTS, INC. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 1-Jun-17 SUBSIDIARY
COMPASS CUSTODIAL SERVICES, INC. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 1-Jun-17 SUBSIDIARY
BBVA LEASIMO - SOCIEDADE DE LOCAÇAO FINANCEIRA, S.A. MERGER FINANCIAL SERVICES - - 100.00% - 10-Feb-17 SUBSIDIARY
BBVA SEGUROS GENERALES S.A. LIQUIDATION INSURANCES SERVICES - - 100.00% - 3-Apr-17 SUBSIDIARY
CATALUNYACAIXA VIDA, S.A. MERGER INSURANCES SERVICES - - 100.00% - 31-Jan-17 SUBSIDIARY
AUMERAVILLA, S.L. LIQUIDATION REAL ESTATE (1) - 100.00% - 30-Jun-17 SUBSIDIARY
ESPAIS CERDANYOLA, S.L. DISPOSAL REAL ESTATE - - 97.51% - 13-Jun-17 SUBSIDIARY
NOVA EGARA-PROCAM, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 30-Jun-17 SUBSIDIARY
CORPORACION BETICA INMOBILIARIA, S.A. LIQUIDATION REAL ESTATE - - 100.00% - 30-Jun-17 SUBSIDIARY
MILLENNIUM PROCAM, S.L. LIQUIDATION REAL ESTATE (1) - 100.00% - 30-Jun-17 SUBSIDIARY
PROVIURE PARC D'HABITATGES, S.L. LIQUIDATION REAL ESTATE 3 - 100.00% - 30-Jun-17 SUBSIDIARY
BBVA AUTORENTING, S.A. DISPOSAL SERVICES 75 - 100.00% - 22-Sep-17 SUBSIDIARY
BBVA EMISORA, S.A. MERGER FINANCIAL SERVICES - - 100.00% - 7-Sep-17 SUBSIDIARY
GRANFIDUCIARIA LIQUIDATION FINANCIAL SERVICES - - 90.00% - 31-Dec-17 SUBSIDIARY
BBVA U.S. SENIOR S.A.U. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 22-Dec-17 SUBSIDIARY
COMPLEMENTOS INNOVACIÓN Y MODA, S.L. LIQUIDATION COMMERCIAL - - 100.00% - 7-Nov-17 SUBSIDIARY
INVESCO MANAGEMENT Nº 1, S.A. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 9-Nov-17 SUBSIDIARY
INVESCO MANAGEMENT Nº 2, S.A. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 9-Nov-17 SUBSIDIARY
TEXAS REGIONAL STATUTORY TRUST I LIQUIDATION FINANCIAL SERVICES - - 100.00% - 31-Dec-17 SUBSIDIARY
GOBERNALIA GLOBAL NET, S.A. MERGER SERVICES - - 100.00% - 27-Jul-17 SUBSIDIARY

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Disposals or Reduction of Interest Ownership in Consolidated Subsidiaries

Millions of Euros % of Voting Rights
Company Type of Transaction Activity Profit (Loss) in the Transaction Changes in the Equity due to the transaction % Participation Sold in the Period Total Voting Rights Controlled after the Disposal Effective Date for the Transaction (or Notification Date) Category
ESTACION DE AUTOBUSES CHAMARTIN, S.A. LIQUIDATION SERVICES - - 51.00% - 30-Oct-17 SUBSIDIARY
STATE NATIONAL CAPITAL TRUST I LIQUIDATION FINANCIAL SERVICES - - 100.00% - 31-Dec-17 SUBSIDIARY
STATE NATIONAL STATUTORY TRUST II LIQUIDATION FINANCIAL SERVICES - - 100.00% - 31-Dec-17 SUBSIDIARY
TEXASBANC CAPITAL TRUST I LIQUIDATION FINANCIAL SERVICES - - 100.00% - 1-Nov-17 SUBSIDIARY
COMPASS TEXAS ACQUISITION CORPORATION MERGER INVESTMENT COMPANY - - 100.00% - 31-Dec-17 SUBSIDIARY
COMPASS TRUST II LIQUIDATION FINANCIAL SERVICES - - 100.00% - 30-Nov-17 SUBSIDIARY
CAPITAL INVESTMENT COUNSEL, INC. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 31-Dec-17 SUBSIDIARY
COMPASS ASSET ACCEPTANCE COMPANY, LLC LIQUIDATION FINANCIAL SERVICES 5 - 100.00% - 31-Dec-17 SUBSIDIARY
COMPASS AUTO RECEIVABLES CORPORATION MERGER FINANCIAL SERVICES - - 100.00% - 31-Dec-17 SUBSIDIARY
CB TRANSPORT ,INC. LIQUIDATION SERVICES (1) - 100.00% - 31-Dec-17 SUBSIDIARY
AMERICAN FINANCE GROUP, INC. MERGER FINANCIAL SERVICES - - 100.00% - 30-Nov-17 SUBSIDIARY
FACILEASING, S.A. DE C.V. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 31-Oct-17 SUBSIDIARY
INNOVATION 4 SECURITY, S.L. MERGER SERVICES - - 100.00% - 27-Jul-17 SUBSIDIARY
CONSORCIO DE CASAS MEXICANAS, S.A.P.I. DE C.V. DISPOSAL REAL ESTATE 3 - 99.99% - 31-Dec-17 SUBSIDIARY
HABITATGES INVERCAP, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
GESTIO D'ACTIUS TITULITZATS, S.A. LIQUIDATION FINANCIAL SERVICES - - 100.00% - 31-Dec-17 SUBSIDIARY
INVERCARTERA INTERNACIONAL, S.L. DISPOSAL INVESTMENT COMPANY - - 100.00% - 21-Dec-17 SUBSIDIARY
S.B.D. NORD, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
PROVIURE, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
AREA TRES PROCAM, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
PROVIURE CIUTAT DE LLEIDA, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
PROVIURE BARCELONA, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
ALGARVETUR, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
CONJUNT RESIDENCIAL FREIXA, S.L. LIQUIDATION REAL ESTATE - - 100.00% - 27-Jul-17 SUBSIDIARY
HABITAT ZENTRUM, S.L. LIQUIDATION REAL ESTATE - - 50.00% - 27-Jul-17 SUBSIDIARY
BBVA BANCO FRANCES, S.A. DILUTION BANKING - - 9.39% 66.55% 31-Jul-17 SUBSIDIARY

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Business Combinations and Other Acquisitions or Increases of Interest Ownership in Associates and Joint-Ventures Accounted for Under the Equity Method

Millions of Euros % of Voting Rights
Company Type of Transaction Activity Price Paid in the Transactions + Expenses Directly Attributable to the Transactions Fair Value of Equity Instruments Issued for the Transactions % Participation (Net) Acquired in the Period Total Voting Rights Controlled after the Transactions Effective Date for the Transaction (or Notification Date) Category
ATOM BANK PLC DILUTION EFFECT BANKING 42 - 0.44% 29.90% 30-Nov-17 ASSOCIATED
TESTA RESIDENCIAL SOCIMI SAU CAPITAL INCREASE REAL ESTATE INVESTMENT TRUST 340 - 13.10% 26.87% 31-Oct-17 ASSOCIATED
BATEC ORTO DISTRIBUCION S.L. FOUNDING COMMERCIAL - - 100.00% 100.00% 8-Jun-17 JOINT VENTURE
HABITATGES SOCIALS DE CALAF S.L CREDITORS AGREEMENT REAL ESTATE - - 40.00% 40.00% 1-May-17 JOINT VENTURE
COMPAÑIA PERUANA DE MEDIOS DE PAGO S.A.C. (VISANET PERU) SHARES AWARD ELECTRONIC MONEY ENTITIES - - 20.28% 20.28% 1-Sep-17 ASSOCIATED
SISTARBANC S.R.L. FOUNDING FINANCIAL SERVICES - - 6.66% 26.66% 31-Aug-17 ASSOCIATED
METROVACESA SUELO Y PROMOCION, S.A. CAPITAL INCREASE REAL ESTATE - - 7.99% 28.51% 30-Nov-17 ASSOCIATED

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Disposal or Reduction of Interest Ownership in Associates and Joint-Ventures Companies Accounted for Under the Equity Method

Millions of Euros
Company Type of Transaction Activity Profit (Loss) in the Transaction % Participation Sold in the Period Total Voting Rights Controlled after the Disposal Effective Date for the Transaction (or Notification Date) Category
SOCIEDAD ADMINISTRADORA DE FONDOS DE CESANTIA DE CHILE II, S.A. DISPOSAL PENSION FUNDS MANAGEMENT 7 48.60% - 28-Jan-17 ASSOCIATE
DOBIMUS, S.L. LIQUIDATION PENSION FUNDS 6 50.00% - 10-Jan-17 JOINT VENTURE
ESPAIS CATALUNYA INVERSIONS IMMOBILIARIES, S.L. DISPOSAL PENSION FUNDS - 50.84% - 13-Jun-17 JOINT VENTURE
FACTOR HABAST, S.L. DISPOSAL PENSION FUNDS - 50.00% - 24-Jan-17 JOINT VENTURE
IMPULS LLOGUER, S.L. DISPOSAL PENSION FUNDS - 100.00% - 24-Jan-17 JOINT VENTURE
NAVIERA CABO ESTAY, AIE LIQUIDATION PENSION FUNDS - 16.00% - 01-Feb-17 ASSOCIATE
JARDINES DEL RUBIN, S.A. LIQUIDATION PENSION FUNDS - 50.00% - 31-Dec-17 JOINT VENTURE
FIDEICOMISO DE ADMINISTRACION 2038-6 LIQUIDATION PENSION FUNDS - 33.70% - 30-Sep-17 ASSOCIATE
METROVACESA PROMOCION Y ARRENDAMIENTO S.A. MERGER PENSION FUNDS - 20.52% - 30-Nov-17 ASSOCIATE
NUCLI, S.A. LIQUIDATION PENSION FUNDS - 29.47% - 29-Nov-17 JOINT VENTURE
RESIDENCIAL PEDRALBES-CARRERAS, S.L. BANKRUPTCY PENSION FUNDS - 25.00% - 22-Dec-17 ASSOCIATE
PROVICAT SANT ANDREU, S.A. DISPOSAL PENSION FUNDS - 50.00% - 30-Sep-17 JOINT VENTURE
NOVA TERRASSA 30, S.L. DISPOSAL PENSION FUNDS - 51.00% - 01-Dec-17 JOINT VENTURE
EUROESPAI 2000, S.L. DISPOSAL PENSION FUNDS - 35.00% - 21-Dec-17 JOINT VENTURE
AGRUPACION DE LA MEDIACION ASEGURADORA DE ENTIDADES FINANCIERAS A.I.E. LIQUIDATION PENSION FUNDS - 25.00% - 30-Sep-17 ASSOCIATE

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APPENDIX IV Fully consolidated subsidiaries with more than 10% owned by non-Group shareholders as of December 31, 2017

% of Voting Rights Controlled by the Bank
Company Activity Direct Indirect Total
BANCO CONTINENTAL, S.A. BANKING - 46.12 46.12
BANCO PROVINCIAL S.A. - BANCO UNIVERSAL BANKING 1.46 53.75 55.21
INVERSIONES BANPRO INTERNATIONAL INC. N.V. INVESTMENT COMPANY 48.00 - 48.00
PRO-SALUD, C.A. NO ACTIVITY - 58.86 58.86
INVERSIONES P.H.R.4, C.A. NO ACTIVITY - 60.46 60.46
BANCO BILBAO VIZCAYA ARGENTARIA CHILE, S.A. BANKING - 68.19 68.19
BBVA INMOBILIARIA E INVERSIONES, S.A. REAL ESTATE - 68.11 68.11
COMERCIALIZADORA CORPORATIVA SAC FINANCIAL SERVICES - 50.00 50.00
DISTRITO CASTELLANA NORTE, S.A. REAL ESTATE - 75.54 75.54
GESTION DE PREVISION Y PENSIONES, S.A. PENSION FUND MANAGEMENT 60.00 - 60.00
URBANIZADORA SANT LLORENC, S.A. NO ACTIVITY 60.60 - 60.60
F/403035-9 BBVA HORIZONTES RESIDENCIAL REAL ESTATE - 65.00 65.00
F/253863 EL DESEO RESIDENCIAL REAL ESTATE - 65.00 65.00
DATA ARCHITECTURE AND TECHNOLOGY S.L. SERVICES - 51.00 51.00
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA S.A. FINANCIAL SERVICES - 51.00 51.00
FIDEICOMISO LOTE 6.1 ZARAGOZA REAL ESTATE - 59.99 59.99
F/11395 FIDEICOMISO IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION REAL ESTATE - 42.40 42.40
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS S.L. SERVICES - 51.00 51.00
HABITATGES INVERVIC, S.L. REAL ESTATE - 35.00 35.00
GARANTI EMEKLILIK VE HAYAT AS INSURANCES - 84.91 84.91
FODECOR, S.L. REAL ESTATE - 60.00 60.00
INFORMACIO I TECNOLOGIA DE CATALUNYA, S.L. SERVICES 76.00 - 76.00
PROCAMVASA, S.A. REAL ESTATE - 51.00 51.00
JALE PROCAM, S.L. REAL ESTATE - 50.00 50.00
VOLJA LUX, SARL INVESTMENT COMPANY - 71.78 71.78
VOLJA PLUS SL INVESTMENT COMPANY 75.40 - 75.40

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APPENDIX V BBVA Group’s structured entities. Securitization funds

Millions of Euros
Securitization Fund (consolidated) Company Origination Date Total Securitized Exposures at the Origination Date Total Securitized Exposures as of December 31, 2017 (*)
2 PS Interamericana BBVA CHILE S.A. Oct-04 29 3
AYT CAIXA SABADELL HIPOTECARIO I, FTA BBVA, S.A. Jul-08 300 90
AYT HIPOTECARIO MIXTO IV, FTA BBVA, S.A. Jun-05 100 21
AYT HIPOTECARIO MIXTO, FTA BBVA, S.A. Mar-04 100 15
BACOMCB 07 BBVA BANCOMER, S.A.,INSTIT. BANCA Dec-07 112 -
BACOMCB 08 BBVA BANCOMER, S.A.,INSTIT. BANCA Mar-08 49 -
BACOMCB 08-2 BBVA BANCOMER, S.A.,INSTIT. BANCA Dec-08 246 -
BBVA CONSUMO 6 FTA BBVA, S.A. Oct-14 299 100
BBVA CONSUMO 7 FTA BBVA, S.A. Jul-15 1,450 924
BBVA CONSUMO 8 FT BBVA, S.A. Jul-16 700 651
BBVA CONSUMO 9 FT BBVA, S.A. Mar-17 1,375 1,361
BBVA EMPRESAS 4 FTA BBVA, S.A. Jul-10 1,700 56
BBVA LEASING 1 FTA BBVA, S.A. Jun-07 2,500 64
BBVA PYME 10 FT BBVA, S.A. Dec-15 780 266
BBVA RMBS 1 FTA BBVA, S.A. Feb-07 2,500 1,111
BBVA RMBS 10 FTA BBVA, S.A. Jun-11 1,600 1,224
BBVA RMBS 11 FTA BBVA, S.A. Jun-12 1,400 1,077
BBVA RMBS 12 FTA BBVA, S.A. Dec-13 4,350 3,450
BBVA RMBS 13 FTA BBVA, S.A. Jul-14 4,100 3,375
BBVA RMBS 14 FTA BBVA, S.A. Nov-14 700 530
BBVA RMBS 15 FTA BBVA, S.A. May-15 4,000 3,435
BBVA RMBS 16 FT BBVA, S.A. May-16 1,600 1,449
BBVA RMBS 17 FT BBVA, S.A. Nov-16 1,800 1,696
BBVA RMBS 18 FT BBVA, S.A. Nov-17 1,800 1,790
BBVA RMBS 2 FTA BBVA, S.A. Mar-07 5,000 2,073
BBVA RMBS 3 FTA BBVA, S.A. Jul-07 3,000 1,529
BBVA RMBS 5 FTA BBVA, S.A. May-08 5,000 2,527
BBVA RMBS 9 FTA BBVA, S.A. Apr-10 1,295 900
BBVA UNIVERSALIDAD E10 BBVA COLOMBIA, S.A. Mar-09 21 -
BBVA UNIVERSALIDAD E11 BBVA COLOMBIA, S.A. May-09 14 -
BBVA UNIVERSALIDAD E12 BBVA COLOMBIA, S.A. Ago-09 22 -
BBVA UNIVERSALIDAD E9 BBVA COLOMBIA, S.A. Dec-08 39 -
BBVA UNIVERSALIDAD N6 BBVA COLOMBIA, S.A. Ago-12 59 -
BBVA VELA SME 2017-1 BBVA, S.A. Jun-17 3,000 2,200
BBVA-5 FTPYME FTA BBVA, S.A. Nov-06 1,900 17
BBVA-6 FTPYME FTA BBVA, S.A. Jun-07 1,500 21
BMERCB 13 BBVA BANCOMER, S.A.,INSTIT. BANCA Jun-13 458 -
FTA TDA-22 MIXTO BBVA, S.A. Dec-04 112 27
FTA TDA-27 BBVA, S.A. Dec-06 275 97
FTA TDA-28 BBVA, S.A. Jul-07 250 98
GAT ICO FTVPO 1, F.T.H BBVA, S.A. Mar-04 40 105
GC FTGENCAT TARRAGONA 1 FTA BBVA, S.A. Jun-08 283 35
HIPOCAT 10 FTA BBVA, S.A. Jul-06 1.500 353
HIPOCAT 11 FTA BBVA, S.A. Mar-07 1,600 362
HIPOCAT 6 FTA BBVA, S.A. Jul-03 850 124
HIPOCAT 7 FTA BBVA, S.A. Jun-04 1,400 256
HIPOCAT 8 FTA BBVA, S.A. May.05 1,500 311
HIPOCAT 9 FTA BBVA, S.A. Nov-05 1,000 240
Instrumentos de Titulización Hip- Junior BANCO CONTINENTAL, S.A. Dec-07 21 1
TDA 19 FTA BBVA, S.A. Mar-04 200 30
TDA 20-MIXTO, FTA BBVA, S.A. Jun-04 100 17
TDA 23 FTA BBVA, S.A. Mar-05 300 64
TDA TARRAGONA 1 FTA BBVA, S.A. Dec-07 397 134

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Millions of Euros
Securitization Fund (not consolidated) Company Origination Date Total Securitized Exposures at the Origination Date Total Securitized Exposures as of December 31, 2017 (*)
FTA TDA-18 MIXTO BBVA, S.A. Nov-03 91 13
  • (*) Solvency scope.

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APPENDIX VI Details of the outstanding subordinated debt and preferred securities issued by the Bank or entities in the Group consolidated as of December 31, 2017, 2016 and 2015

Outstanding as of December 31, 2017, 2016, and 2015 of subordinated issues

Millions of Euros
Issuer Entity and Issued Date(*) Currency December 2017 December 2016 December 2015 Prevailing Interest Rate as of December 31, 2017 Maturity Date
Issues in Euros
BBVA
February-07 EUR 255 255 255 0.47% 16-Feb-22
March-08 EUR 125 125 125 6.03% 3-Mar-33
July-08 EUR 100 100 100 6.20% 4-Jul-23
February-14 EUR 1,500 1,500 1,500 7.00% Perpetual
April-14 EUR 1,494 - - 3.50% 11-Apr-24
February-15 EUR 1,500 1,500 1,500 6.75% Perpetual
April-16 EUR 1,000 1,000 - 8.88% Perpetual
February-17 EUR 997 - - 3.50% 10-Feb-27
February-17 EUR 165 - - 4.50% 24-Feb-32
May-17 EUR 150 - - 2.54% 24-May-27
May-17 EUR 500 - - 5.88% Perpetual
Various EUR 386 277 310
Subtotal EUR 8,171 4,756 3,789
BBVA GLOBAL FINANCE, LTD. (*)
October-01 EUR - - 10 6.08% 10-Oct-16
October-01 EUR - - 46 0.55% 15-Oct-16
November-01 EUR - - 53 0.63% 02-Nov-16
December-01 EUR - - 56 0.57% 20-Dic-16
Subtotal EUR - - 165
BBVA SUBORDINATED CAPITAL, S.A.U. (*)
October-05 EUR 99 99 99 0.47% 13-Oct-20
April-07 EUR - 68 68 0.57% 4-Apr-22
May-08 EUR - 50 50 3.00% 19-May-23
July-08 EUR 20 20 20 6.11% 22-Jul-18
April-14 EUR - 1,500 1,500 3.50% 11-Apr-24
Subtotal EUR 119 1,737 1,737
TURKIYE GARANTI BANKASI A.S
February-09 EUR - - 50 3.53% 31-Mar-21
Subtotal EUR - - 50
Others   - - 1    
Total issued in Euros 8,290 6,493 5,742
  • (*) The issuances of BBVA Subordinated Capital, S.A.U. and BBVA Global Finance, LTD., are jointly, severally and unconditionally guaranteed by the Bank.

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Outstanding as of December 31, 2017, 2016, and 2015 of subordinated issues (continued)

Millions of Euros
Issuer Entity and Issued Date Currency December 2017 December 2016 December 2015 Prevailing Interest Rate as of December 31, 2017 Maturity Date
Issues in foreign currency
BBVA
May-13 USD 1,251 1,423 1,378 9.00% Perpetual
March-17 USD 100 - - 5.70% 31-Mar-32
November-17 USD 834 - - 6.13% 15-Feb-18
Subtotal USD 2,185 1,423 1,378
May-17 CHF 17 - - 1.60% 24-May-27
Subtotal CHF 17 - -
BBVA GLOBAL FINANCE, LTD. (**)
December-95 USD 162 189 183 7.00% 01-Dec-25
Subtotal USD 162 189 183
BANCO BILBAO VIZCAYA ARGENTARIA, CHILE USD
Different issues CLP 574 609 558 Various
Subtotal CLP 574 609 558
BBVA BANCOMER, S.A. de C.V.
May-07 USD - 474 456 6.01% 17-May-22
April-10 USD 831 947 912 7.25% 22-Apr-20
March-11 USD 1,039 1,184 1,140 6.50% 10-Mar-21
July-12 USD 1,247 1,421 1,368 6.75% 30-Sep-22
November-14 USD 166 189 182 5.35% 12-Nov-29
Subtotal USD 3,283 4,214 4,058
BBVA PARAGUAY
November-14 USD 17 19 18 6,75% 05-Nov-21
November-15 USD 21 24 23 6.70% 22-Nov-22
Subtotal USD 38 43 42
TEXAS REGIONAL STATUTORY TRUST I
February-04 USD - 47 46 3.13% 17-Mar-34
Subtotal USD - 47 46
  • (*) The issuances of BBVA Global Finance, Ltd, are guaranteed (secondary liability) by the Bank

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Outstanding as of December 31, 2017, 2016, and 2015 of subordinated issues

Millions of Euros
Issuer Entity and Issued Date (continued) Currency December 2017 December 2016 December 2015 Prevailing Interest Rate as of December 31, 2017 Maturity Date
STATE NATIONAL CAPITAL TRUST I
July-03 USD - 14 14 3.32% 30-Sep-33
Subtotal USD - 14 14
STATE NATIONAL STATUTORY TRUST II
March-04 USD - 9 9 3.07% 17-Mar-34
Subtotal USD - 9 9
TEXASBANC CAPITAL TRUST I
June-04 USD - 24 23 2.88% 23-Jul-34
Subtotal USD - 24 23
COMPASS BANK
March-05 USD 190 212 204 5.50% 01-Apr-20
March-06 USD 59 65 63 5.90% 01-Apr-26
September-07 USD - 332 321 6.40% 01-Oct-17
April-15 USD 584 655 633 3.88% 10-Apr-25
Subtotal 833 1.264 1.221
BBVA COLOMBIA. S.A.
September-11 COP 28 32 45 8.31% 19-Sep-18
September-11 COP 30 33 58 8.48% 19-Sep-21
September-11 COP 44 49 48 8.72% 19-Sep-26
February-13 COP 56 63 30 7.65% 19-Feb-23
February-13 COP 46 52 31 7.93% 19-Feb-28
November-14 COP 25 28 47 8.53% 26-Nov-26
November-14 COP 45 51 26 8.41% 26-Nov-34
Subtotal COP 273 309 285
April-15 USD 313 379 366 4.88% 21-Apr-25
Subtotal USD 379 366
BANCO CONTINENTAL, S.A.
May-07 USD 17 19 18 6.00% 14-May-27
September-07 USD - 19 18 2.16% 24-Sep-17
February-08 USD 17 19 18 6.47% 28-Feb-28
October-13 USD 38 43 41 6.53% 02-Oct-28
September-14 USD 244 273 274 5.25% 22-Sep-29
Subtotal USD 315 373 371
May-07 PEN - 11 11 5.85% 07-May-22
June-07 PEN 20 21 20 3.47% 18-Jun-32
November-07 PEN 18 19 18 3.56% 19-Nov-32
July-08 PEN 16 17 15 3.06% 08-Jul-23
September-08 PEN 17 18 17 3.09% 09-Sep-23
December-08 PEN 10 11 10 4.19% 15-Dic-33
Subtotal PEN 80 97 90
TURKIYE GARANTI BANKASI A.S
May-17 USD 623 - - 6.13% -
Subtotal USD 623 - - -
Total issues in foreign currencies (Millions of euros) 8,695 8,995 8,642

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Outstanding as of December 31, 2017, 2016, and 2015 of subordinated issues (Millions of euros)

December 2017 December 2016 December 2015
Issuer Entity and Issued Date Currency Amount Issued Currency Amount Issued Currency Amount Issued
BBVA
December 2007 EUR - EUR 14 EUR 14
BBVA International Preferred, S.A.U.
September 2005 - - EUR 86 EUR 86
September 2006 - - EUR 164 EUR 164
Abril 2007 - - USD 569 USD 551
July 2007 GBP 35 GBP 36 GBP 43
Phoenix Loan Holdings Inc.
December-2000 USD 18 USD 22 USD 22
Caixa Terrasa Societat de Participacion
August 2005 EUR 51 EUR 51 EUR 75
Caixasabadell Preferents, S.A.
July 2006 EUR 56 EUR 53 EUR 90
Others 1 - 1 - 1

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APPENDIX VII Consolidated balance sheets held in foreign currency as of December 31, 2017, 2016 and 2015.

December 2017 (Millions of euros)
USD Mexican Pesos Turkish Lira Other Foreign Currencies Total Foreign Currencies
Assets
Cash, cash balances at central banks and other demand deposits 17,111 4,699 827 4,264 26,902
Financial assets held for trading 2,085 14,961 484 4,583 22,113
Available-for-sale financial assets 14,218 8,051 4,904 3,010 30,183
Loans and receivables 93,069 39,717 32,808 34,488 200,081
Investments in entities accounted for using the equity method 5 124 - 147 276
Tangible assets 659 1,953 1,289 673 4,573
Other assets 7,309 5,041 4,426 18,662 35,438
Total 134,456 74,546 44,738 65,826 319,566
Liabilities
Financial liabilities held for trading 935 5,714 506 533 7,688
Financial liabilities at amortized cost 135,546 51,492 27,079 39,062 253,178
Other liabilities 3,907 8,720 1,039 16,593 30,259
Total 140,387 65,926 28,623 56,188 291,124
December 2016 (Millions of euros)

USD Mexican Pesos Turkish Lira Other Foreign Currencies Total Foreign Currencies
Assets
Cash, cash balances at central banks and other demand deposits 15,436 4,947 426 4,547 25,357
Financial assets held for trading 5,048 15,541 732 2,695 24,016
Available-for-sale financial assets 18,525 9,458 4,889 5,658 38,530
Loans and receivables 109,167 41,344 34,425 46,629 231,565
Investments in entities accounted for using the equity method 5 135 - 106 247
Tangible assets 788 2,200 1,376 844 5,207
Other assets 4,482 5,214 5,219 4,358 19,273
Total 153,451 78,839 47,066 64,839 344,194
Liabilities
Financial liabilities held for trading 3,908 5,957 693 1,426 11,983
Financial liabilities at amortized cost 150,035 53,185 28,467 53,858 285,546
Other liabilities 1,812 8,774 1,418 1,957 13,961
Total 155,755 67,916 30,578 57,241 311,490
December 2015 (Millions of euros)






USD Mexican Pesos Turkish Lira Other Foreign Currencies Total Foreign Currencies
Assets
Cash, cash balances at central banks and other demand deposits 8,257 6,547 485 3,833 19,121
Financial assets held for trading 6,449 16,581 374 3,006 26,410
Available-for-sale financial assets 22,573 10,465 9,691 6,724 49,454
Loans and receivables 115,899 45,396 32,650 44,382 238,328
Investments in entities accounted for using the equity method 216 241 - 40 498
Tangible assets 781 2,406 1,348 762 5,296
Other assets 2,018 5,054 2,320 3,817 13,209
Total 156,193 86,690 46,868 62,564 352,315
Liabilities
Financial liabilities held for trading 5,010 5,303 513 1,925 12,750
Financial liabilities at amortized cost 152,383 60,800 30,267 50,004 293,455
Other liabilities 2,001 9,038 1,393 2,132 14,564
Total 159,394 75,141 32,173 54,061 320,769

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APPENDIX VIII Consolidated income statements for the first and second half of 2017 and 2016


 Six months ended June 30, 2017 Six months ended December 31, 2017 Six months ended June 30, 2016 Six months ended December 31, 2016
Interest income 14,305 14,991 13,702 14,006
Interest expenses (5,502) (6,035) (5,338) (5,310)
NET INTEREST INCOME 8,803 8,955 8,365 8,694
Dividend income 212 122 301 166
Share of profit or loss of entities accounted for using the equity method (8) 12 1 24
Fee and commission income 3,551 3,599 3,313 3,491
Fee and commission expenses (1,095) (1,134) (963) (1,123)
Gains or (-) losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss. net 683 302 683 692
Gains or (-) losses on financial assets and liabilities held for trading, net 139 79 106 142
Gains or (-) losses on financial assets and liabilities designated at fair value through profit or loss, net (88) 32 24 90
Gains or (-) losses from hedge accounting, net (193) (16) (171) 95
Exchange differences, net 528 502 533 (61)
Other operating income 562 877 715 557
Other operating expenses (945) (1,278) (1,186) (942)
Income on insurance and reinsurance contracts 1,863 1,479 1,958 1,694
Expenses on insurance and reinsurance contracts (1,295) (977) (1,446) (1,099)
GROSS INCOME 12,718 12,552 12,233 12,420
Administration costs (5,599) (5,513) (5,644) (5,722)
Personnel expenses (3,324) (3,247) (3,324) (3,398)
Other administrative expenses (2,275) (2,266) (2,319) (2,325)
Depreciation (712) (675) (689) (737)
Provisions or (-) reversal of provisions (364) (381) (262) (924)
Impairment or (-) reversal of impairment on financial assets not measured at fair value through profit or loss (1,941) (2,862) (2,110) (1,691)
NET OPERATING INCOME 4,102 3,120 3,528 3,346
Impairment or (-) reversal of impairment of investments in subsidiaries, joint ventures and associates - - - -
Impairment or (-) reversal of impairment on non-financial assets (80) (284) (99) (422)
Gains (losses) on derecognized of non financial assets and subsidiaries, net 30 17 37 33
Negative goodwill recognized in profit or loss - - - -
Profit or (-) loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations (18) 44 (75) 44
OPERATING PROFIT BEFORE TAX 4,033 2,898 3,391 3,001
Tax expense or (-) income related to profit or loss from continuing operation (1,120) (1,049) (920) (779)
PROFIT FROM CONTINUING OPERATIONS 2,914 1,848 2,471 2,222
Profit from discontinued operations, net - - - -
PROFIT 2,914 1,848 2,471 2,222
Attributable to minority interest [non-controlling interests] 607 636 639 579
Attributable to owners of the parent 2,306 1,213 1,832 1,643
Euros Six months ended June 30, 2017 Six months ended December 30, 2017 Six months ended June 30, 2016 Six months ended December 30, 2016
EARNINGS PER SHARE
Basic earnings per share from continued operations 0.33 0.16 0.26 0.23
Diluted earnings per share from continued operations 0.33 0.16 0.26 0.23
Basic earnings per share from discontinued operations - - - -
Diluted earnings per share from discontinued operations - - - -

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APPENDIX IX Financial Statements of Banco Bilbao Vizcaya Argentaria, S.A

Balance sheets as of December 31, 2017 and December 31, 2016 of BBVA, S.A.

ASSETS (Millions of euros)
December 2017 December 2016
CASH, CASH BALANCES AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS 18,503 15,855
FINANCIAL ASSETS HELD FOR TRADING 50,424 57,440
Derivatives
36,536 42,023
Equity instruments
6,202 3,873
Debt securities
7,686 11,544
Loans and advances to central banks
- -
Loans and advances to credit institutions
- -
Loans and advances to customers
- -
OTHER FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS
648 -
AVAILABLE-FOR-SALE FINANCIAL ASSETS
24,205 29,004
Equity instruments
2,378 3,506
Debt securities
21,827 25,498
LOANS AND RECEIVABLES 
244,232 251,487
Debt securities
10,502 11,001
Loans and advances to central banks
28 -
Loans and advances to credit institutions
22,105 26,596
Loans and advances to customers
211,597 213,890
HELD-TO-MATURITY INVESTMENTS
8,354 11,424
HEDGING DERIVATIVES 1,561 1,586
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK (25) 17
INVESTMENTS IN SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES
30,795 30,218
Group entities
30,304 29,823
Joint ventures
58 18
Associates
433 377
TANGIBLE ASSETS
1,599 1,856
Property, plants and equipment
1,587 1,845
For own use
1,587 1,845
Other assets leased out under an operating lease
- -
Investment properties
12 11
INTANGIBLE ASSETS 882 942
Goodwill
- -
Other intangible assets
882 942
TAX ASSETS
12,911 12,394
Current
1,030 756
Deferred
11,881 11,638
OTHER ASSETS 
3,768 3,709
Insurance contracts linked to pensions
2,142 2,426
Inventories
- -
Rest
1,626 1,283
NON-CURRENT ASSETS AND DISPOSAL GROUPS HELD FOR SALE
2,226 2,515
TOTAL ASSETS
400,083 418,447

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Balance sheets as of December 31, 2017 and December 31, 2016 of BBVA, S.A.

LIABILITIES AND EQUITY (Millions of euros)

December 2017 December 2016
FINANCIAL LIABILITIES HELD FOR TRADING 43,703 48,265
Trading derivatives 36,097 40,951
Short positions 7,606 7,314
Deposits from central banks - -
Deposits from credit institutions - -
Customer deposits - -
Debt certificates - -
Other financial liabilities - -
OTHER FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS - -
FINANCIAL LIABILITIES AT AMORTIZED COST 305,797 319,884
Deposits from central banks 28,132 26,629
Deposits from credit institutions 40,599 44,977
Customer deposits 194,645 207,946
Debt certificates 34,166 33,174
Other financial liabilities 8,255 7,158
Subordinated liabilities 10,887 9,209
HEDGING DERIVATIVES 1,327 1,488
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK (7) -
PROVISIONS 7,605 8,917
Provisions for pensions and similar obligations 4,594 5,271
Other long term employee benefits 31 32
Provisions for taxes and other legal contingencies 329 -
Provisions for contingent risks and commitments 272 658
Other provisions 2,379 2,956
TAX LIABILITIES 1,240 1,415
Current 124 127
Deferred 1,116 1,288
OTHER LIABILITIES 2,207 2,092
LIABILITIES INCLUDED IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE - -
TOTAL LIABILITIES 361,872 382,061

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Balance sheets as of December 31, 2017 and December 31, 2016 of BBVA, S.A.

LIABILITIES AND EQUITY (Continued) (Millions of euros)

December 2017 December 2016
SHAREHOLDERS’ FUNDS 37,802 36,748
Capital 3,267 3,218
Paid up capital 3,267 3,218
Unpaid capital which has been called up - -
Share premium 23,992 23,992
Equity instruments issued other than capital 47 46
Equity component of compound financial instruments - -
Other equity instruments issued 47 46
Other equity - -
Retained earnings - -
Revaluation reserves 12 20
Other reserves 9,445 9,346
Reserves or accumulated losses of investments in subsidiaries, joint ventures and associates - -
Other - 9,346
Less: Treasury shares - (23)
Profit or loss attributable to owners of the parent 2,083 1,662
Less: Interim dividends (1,044) (1,513)
ACCUMULATED OTHER COMPREHENSIVE INCOME 409 (362)
Items that will not be reclassified to profit or loss (38) (43)
Actuarial gains or (-) losses on defined benefit pension plans (38) (43)
Non-current assets and disposal groups classified as held for sale - -
Other adjustments - -
Items that may be reclassified to profit or loss 447 (319)
Hedge of net investments in foreign operations [effective portion] - -
Foreign currency translation - 13
Hedging derivatives. Cash flow hedges [effective portion] (136) (127)
Available-for-sale financial assets 583 (205)
Non-current assets and disposal groups classified as held for sale - -
TOTAL EQUITY 38,211 36,386
TOTAL EQUITY AND TOTAL LIABILITIES 400,083 418,447

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MEMORANDUM ITEM - OFF BALANCE SHEET EXPOSURES (Millions of euros)

December 2017 December 2016
Financial guarantees given 32,794 39,704
Contingent commitments 69,677 71,162

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INCOME STATEMENTS (Millions of euros)

December 2017 December 2016
Interest and similar income 4,860 6,236
Interest and similar expenses (1,397) (2,713)
NET INTEREST INCOME 3,463 3,523
Dividend income 3,555 2,854
Share of profit or loss of entities accounted for using the equity method - -
Fee and commission income 2,003 1,886
Fee and commission expenses (386) (353)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net 634 955
Gains or (-) losses on financial assets and liabilities held for trading, net 32 (70)
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net 18 -
Gains or (-) losses from hedge accounting, net (227) (62)
Exchange differences, net 435 305
Other operating income 159 140
Other operating expenses (466) (504)
GROSS INCOME 9,220 8,674
Administration costs (4,037) (4,247)
Personnel expenses (2,382) (2,502)
General and administrative expenses (1,655) (1,745)
Depreciation (540) (575)
Provisions or (-) reversal of provisions (802) (1,187)
Impairment or (-) reversal of impairment on financial assets not measured at fair value through profit or loss (1,585) (949)
(Financial assets measured at cost) (9) (12)
(Available- for-sale financial assets) (1,125) (180)
(Loans and receivables) (451) (757)
(Held to maturity investments) - -
NET OPERATING INCOME 2,256 1,716
Impairment or (-) reversal of impairment of investments in subsidiaries, joint ventures and associates) 207 (147)
Impairment or (-) reversal of impairment on non-financial assets (8) (16)
Tangible assets (8) (16)
Intangible assets - -
Other assets - -
Gains (losses) on derecognized assets not classified as non-current assets held for sale (1) 12
Negative goodwill recognized in profit or loss - -
Profit or (-) loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations     (14) (73)
OPERATING PROFIT BEFORE TAX 2,440 1,492
Tax expense or (-) income related to profit or loss from continuing operation (357) 170
PROFIT FROM CONTINUING OPERATIONS 2,083 1,662
Profit from discontinued operations, net - -
PROFIT 2,083 1,662

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STATEMENTS OF RECOGNIZED INCOME AND EXPENSES (Millions of euros)

December 2017 December 2016
PROFIT RECOGNIZED IN INCOME STATEMENT 2,083 1,662
OTHER RECOGNIZED INCOME (EXPENSES) 771 (744)
ITEMS NOT SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT 4 (21)
ITEMS SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT 767 (723)
Hedge of net investments in foreign operations [effective portion] - -
Foreign currency translation (18) (11)
Translation gains or (-) losses taken to equity - 18
Transferred to profit or loss (18) (29)
Other reclassifications - -
Cash flow hedges [effective portion] (12) (74)
Valuation gains or (-) losses taken to equity (9) (69)
Transferred to profit or loss (3) (5)
Transferred to initial carrying amount of hedged items - -
Other reclassifications - -
Available-for-sale financial assets 751 (583)
Valuation gains/(losses) 142 217
Amounts reclassified to income statement 609 (800)
Reclassifications (other) - -
Non-current assets held for sale - -
Valuation gains/(losses) - -
Amounts reclassified to income statement - -
Reclassifications (other) - -
Income tax 46 (55)
TOTAL RECOGNIZED INCOME/EXPENSES 2,854 918

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Statement of Changes in Equity for the year ended December 31, 2017 of BBVA, S.A.

Millions of Euros
December 2017 Capital Share Premium Equity instruments issued other than capital Other Equity Retained earnings Revaluation reserves Other reserves (-) Treasury shares Profit or loss attributable to owners of the parent Interim dividends Accumulated other comprehensive income Total
Balances as of January 1, 2017 3,218 23,992 46 - - 20 9,346 (23) 1,662 (1,513) (362) 36,386
Adjusted initial balance - - - - - - - - 2,083 - 771 2,854
Total income/expense recognized 49 - 1 - - (8) 99 23 (1,662) 469 - (1,029)
Other changes in equity 49 - - - - - (49) - - - - -
Issuances of common shares - - - - - - - - - - - -
Issuances of preferred shares - - - - - - - - - - - -
Issuance of other equity instruments - - - - - - - - - - - -
Period or maturity of other issued equity instruments - - - - - - - - - - - -
Conversion of debt on equity - - - - - - - - - - - -
Common Stock reduction - - - - - - - - - (901) - (901)
Dividend distribution - - - - - - - (1,354) - - - (1,354)
Purchase of treasury shares - - - - - - 4 1,377 - - - 1,381
Sale or cancellation of treasury shares - - - - - - - - - - - -
Reclassification of financial liabilities to other equity instruments - - - - - - - - - - - -
Reclassification of other equity instruments to financial liabilities - - (1) - - (8) 158 - (1,662) 1,513 - -
Transfers between total equity entries - - - - - - - - - - - -
Increase/Reduction of equity due to business combinations - - - - - - - - - - - -
Share based payments - - 2 - - - (14) - - (143) - (155)
Other increases or (-) decreases in equity - - - - - - - - - - - -
Balance as of December 31, 2017 3,267 23,992 47 - - 12 9,445 - 2,083 (1,044) 409 38,211

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Statement of Changes in Equity for the year ended December 31, 2017 of BBVA, S.A.

Millions of Euros
December 2016 Capital Share Premium Equity instruments issued other than capital Other Equity Retained earnings Revaluation reserves Other reserves (-) Treasury shares Profit or loss attributable to owners of the parent Interim dividends Accumulated other comprehensive income Total
Balances as of January 1, 2016 3,120 23,992 28 - - 22 7,787 (19) 2,864 (1,356) 382 36,820
Adjusted initial balance 3,120 23,992 28 - - 22 7,787 (19) 2,864 (1,356) 382 36,820
Total income/expense recognized - - - - - - - - 1,662 - (744) 918
Other changes in equity 98 - 18 - - (2) 1,559 (4) (2,864) (157) - (1,352)
Issuances of common shares 98 - - - - - (98) - - - - -
Issuances of preferred shares - - - - - - - - - - - -
Issuance of other equity instruments - - - - - - - - - - - -
Period or maturity of other issued equity instruments - - - - - - - - - - - -
Conversion of debt on equity - - - - - - - - - - - -
Common Stock reduction - - - - - - - - - - - -
Dividend distribution - - - - - - - - - (1,303) - (1,303)
Purchase of treasury shares - - - - - - - (1,570) - - - (1,570)
Sale or cancellation of treasury shares - - - - - - 10 1,566 - - - 1,576
Reclassification of financial liabilities to other equity instruments - - - - - - - - - - - -
Reclassification of other equity instruments to financial liabilities - - - - - - - - - - - -
Transfers between total equity entries - - (3) - - (2) 1,513 - (2,864) 1,356 - -
Increase/Reduction of equity due to business combinations - - - - - - 139 - - - - 139
Share based payments - - - - - - - - - - - -
Other increases or (-) decreases in equity - - 21 - - - (5) - - (210) - (194)
Balance as of December 31, 2016 3,218 23,992 46 - - 20 9,346 (23) 1,662 (1,513) (362) 36,386

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CASH FLOWS STATEMENTS (Millions of euros)

December 2017 December 2016
A) CASH FLOW FROM OPERATING ACTIVITIES (1) (20) 6,281
Profit for the year 2,083 1,662
Adjustments to obtain the cash flow from operating activities: 2,261 1,811
Depreciation and amortization 540 574
Other adjustments 1,721 1,237
Net increase/decrease in operating assets 17,516 (16,227)
Financial assets held for trading 7,016 1,166
Other financial assets designated at fair value through profit or loss (648) -
Available-for-sale financial assets 4,799 21,597
Loans and receivables 7,255 (24,706)
Other operating assets (906) (14,284)
Net increase/decrease in operating liabilities (22,237) 19,205
Financial liabilities held for trading (4,562) 1,292
Other financial liabilities designated at fair value through profit or loss - -
Financial liabilities at amortized cost (15,228) 15,847
Other operating liabilities (2,447) 2,066
Collection/Payments for income tax 357 (170)
CASH FLOWS FROM INVESTING ACTIVITIES (2) 1.995 (1.048)
Investments (2,118) (3,168)
Tangible assets (100) (170)
Intangible assets (276) (320)
Investments (1,117) (246)
Subsidiaries and other business units - -
Non-current assets held for sale and associated liabilities (625) (674)
Held-to-maturity investments - (1,758)
Other settlements related to investing activities - -
Divestments 4,113 2,120
Tangible assets 21 20
Intangible assets - -
Investments 508 93
Subsidiaries and other business units - -
Non-current assets held for sale and associated liabilities 815 511
Held-to-maturity investments 2,576 1,321
Other collections related to investing activities 193 175

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CASH FLOWS STATEMENTS (Continued) (Millions of euros)

December 2017 December 2016
CASH FLOWS FROM FINANCING ACTIVITIES (3) 106 (501)
Investment (4,090) (3,247)
Dividends (1,570) (1,497)
Subordinated liabilities (919) (180)
Common stock amortization - -
Treasury stock acquisition (1,354) (1,570)
Other items relating to financing activities (247) -
Divestments 4,196 2,746
Subordinated liabilities 2,819 1,000
Common stock increase - -
Treasury stock disposal 1,377 1,574
Other items relating to financing activities - 172
EFFECT OF EXCHANGE RATE CHANGES (4) 566 (67)
NET INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (1+2+3+4) 2,647 4,665
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 15,856 11,191
CASH AND CASH EQUIVALENTS AT END OF THE YEAR 18,503 15,856

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COMPONENTS OF CASH AND EQUIVALENTS AT END OF THE YEAR (Millions of euros)

December 2017 December 2016
Cash 906 879
Balance of cash equivalent in central banks 15,858 14,913
Other financial assets 1,739 63
Less: Bank overdraft refundable on demand - -
TOTAL CASH AND CASH EQUIVALENTS AT END OF THE YEAR 18,503 15,856

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APPENDIX X Information on data derived from the special accounting registry

a) Mortgage market policies and procedures

Information required pursuant to Circular 5/2011 of the Bank of Spain is indicated as follows.

The Bank has express policies and procedures in place regarding its activities in the mortgage market, which provide for full compliance with applicable regulations.

The mortgage origination policy is based in principles focused on assessing the adequate ratio between the amount of the loan, and the payments, and the income of the applicant. Applicants must in all cases prove sufficient repayment ability (present and future) to meet their repayment obligations, for both the mortgage debt and for other debts detected in the financial system. Therefore, the applicant’s repayment ability is a key aspect within the credit decision-making tools and retail risk acceptance manuals, and has a high weighting in the final decision.

During the mortgage risk transaction analysis process, documentation supporting the applicant’s income (payroll, etc.) is required, and the applicant’s position in the financial system is checked through automated database queries (internal and external). This information is used for calculation purposes in order to determine the level of indebtedness/compliance with the remainder of the system. This documentation is kept in the transaction’s file.

In addition, the mortgage origination policy assesses the adequate ratio between the amount of the loan and the appraisal value of the mortgaged asset. The policy also establishes that the property to be mortgaged be appraised by an independent appraisal company as established by Circular 3/2010 and Circular 4/2016. BBVA selects those companies whose reputation, standing in the market and independence ensure that their appraisals adapt to the market reality in each region. Each appraisal is reviewed and checked before the loan is granted and, in those cases where the loan is finally granted, it is kept in the transaction’s file.

As for issues related to the mortgage market, the Finance area annually defines the strategy for wholesale finance issues, and more specifically mortgage bond issues, such as mortgage covered bonds or mortgage securitization. The Assets and Liabilities Committee tracks the budget monthly. The volume and type of assets in these transactions is determined in accordance with the wholesale finance plan, the trend of the Bank’s “Loans and receivables” outstanding balances and the conditions in the market.

The Board of Directors of the Bank authorizes each of the issues of Mortgage Transfer Certificates and/or Mortgage Participations issued by BBVA to securitize the credit rights derived from loans and mortgage loans, Likewise, the Board of Directors authorizes the establishment of a Base Prospectus for the issuance of fixed-income securities through which the mortgage-covered bonds are implemented.

As established in article 24 of Royal Decree 716/2009, of April, 24, by virtue of which certain aspects of Law 2/1981, of 25 March, of regulation of the mortgage market and other rules of the mortgage and financial system are developed, “the volume of outstanding mortgage-covered bonds issued by a bank may not exceed 80% of a calculation base determined by adding the outstanding principal of all the loans and mortgage loans in the bank’s portfolio that are eligible” and which are not covered by the issue of Mortgage Bonds, Mortgage Participations or Mortgage Transfer Certificates. For these purposes, in accordance with the aforementioned Royal Decree 716/2009, in order to be eligible, loans and mortgage loans, on a general basis: (i) must be secured by a first mortgage on the freehold; (ii) the loan’s amount may not exceed 80% of the appraisal value for residential mortgages, and 60% for other mortgage lending; (iii) must be established on assets exclusively and wholly owned by the mortgagor; (iv) must have been appraised by an independent appraisal company unrelated to the Group and authorized by the Bank of Spain; and (v) the mortgaged property must be covered at least by a current damage insurance policy.

The Bank has set up a series of controls for mortgage covered bonds, which regularly control the total volume of issued mortgage covered bonds issued and the remaining eligible collateral, to avoid exceeding the maximum limit set by Royal Decree 716/2009, and outlined in the preceding paragraph. In the case of securitizations, the preliminary portfolio of loans and mortgage loans to be securitized is checked according to an agreed procedures engagement, by the Bank’s external auditor as required by the Spanish Securities and Exchange Commission. There is also a series of filters through which some mortgage loans and credits are excluded in accordance with legal, commercial and risk concentration criteria.

b) Quantitative information on activities in the mortgage market

The quantitative information on activities in the mortgage market required by Bank of Spain Circular 5/2011 is shown below.

b.1) Ongoing operations

Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of euros)

December 2017 December 2016
Nominal value of outstanding loans and mortgage loans (A) 105,539 113,977
Minus: Nominal value of all outstanding loans and mortgage loans that form part of the portfolio, but have been mobilized through mortgage bond holdings or mortgage transfer certificates. (B) (32,774) (33,677)
Nominal value of outstanding loans and mortgage loans, excluding securitized loans (A)-(B) 72,765 80,300
Of which:
Loans and mortgage loans which would be eligible if the calculation limits set forth in Article 12 of Spanish Royal Decree 716/2009 were not applied. (C) 48,003 46,987
Minus: Loans and mortgage loans which would be eligible but, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, cannot be used to collateralize any issuance of mortgage bonds. (D) (1,697) (2,268)
Eligible loans and mortgage loans that, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, can be used as collateral for the issuance of mortgage bonds (C)-(D) 46,306 44,719
Issuance limit: 80% of eligible loans and mortgage loans that can be used as collateral (E) 37,045 35,775
Issued Mortgage-covered bonds (F) 20,153 29,085
Outstanding Mortgage-covered bonds 16,065 24,670
Capacity to issue mortgage-covered bonds (E)-(F) 16,892 6,690
Memorandum items:
Percentage of overcollateralization across the portfolio 361% 276%
Percentage of overcollateralization across the eligible used portfolio 230% 154%
Nominal value of available sums (committed and unused) from all loans and mortgage loans. 3,084 2,917
Of which:
Potentially eligible 2,471 2,237
Ineligible 613 680
Nominal value of all loans and mortgage loans that are not eligible, as they do not meet the thresholds set in Article 5.1 of Spanish Royal Decree 716/2009, but do meet the rest of the eligibility requirements indicated in Article 4 of the Royal Decree. 16,272 25,282
Nominal value of the replacement assets subject to the issue of mortgage-covered bonds. - -

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Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of euros)

December 2017 December 2016
Total loans (1) 105,539 113,977
Issued mortgage participations (2) 1,809 2,865
Of which: recognized on the balance sheet - 695
Issued mortgage transfer certificates (3) 30,965 30,812
Of which: recognized on the balance sheet 28,954 28,778
Mortgage loans as collateral of mortgages bonds (4)
Loans supporting the issuance of mortgage-covered bonds 1-2-3-4 72,765 80,300
Non eligible loans 24,762 33,313
Comply requirements to be eligible except the limit provided for under the article 5.1 of the Spanish Royal Decree 716/2009 16,272 25,282
Other 8,490 8,031
eligible loans 48,003 46,987
That cannot be used as collateral for issuances 1,697 2,268
That can be used as collateral for issuances 46,306 44,719
Loans used to collateralize mortgage bonds - -
Loans used to collateralize mortgage-covered bonds 46,306 44,719

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Mortgage loans. Classification of the nominal values according to different characteristics (Millions of euros)

December 2017 December 2016
Total mortgage loans Eligible Loans(*) Eligible that can be used as collateral for issuances (**) Total mortgage loans Eligible Loans(*) Eligible that can be used as collateral for issuances (**)
TOTAL 72,765 48,003 46,306 80,300 46,987 44,719
By source of the operations
Originated by the bank 67,134 43,315 41,694 74,220 42,641 40,451
Subrogated by other institutions 795 692 686 904 685 678
Rest 4,836 3,996 3,926 5,176 3,661 3,590
By Currency
In euros 72,070 47,623 45,945 79,422 46,594 44,341
In foreign currency 695 380 361 878 393 378
By payment situation
Normal payment 61,013 43,578 43,187 61,264 40,685 40,389
Other situations 11,752 4,425 3,119 19,036 6,302 4,330
By residual maturity
Up to 10 years 15,482 10,268 9,659 19,762 12,722 11,765
10 to 20 years 29,131 23,344 22,748 30,912 22,417 21,646
20 to 30 years 18,470 11,565 11,153 19,899 9,375 8,910
Over 30 years 9,682 2,826 2,746 9,727 2,473 2,398
By Interest Rate
Fixed rate 5,578 2,697 2,614 4,460 1,680 1,559
Floating rate 67,187 45,306 43,692 75,840 45,307 43,160
Mixed rate - - - - - -
By Target of Operations
For business activity 17,111 7,788 6,569 20,913 8,614 6,926
From which: public housing 4,520 1,670 726 6,958 1,894 740
For households 55,654 40,215 39,737 59,387 38,373 37,793
By type of guarantee
Secured by completed assets/buildings 70,922 47,619 45,989 75,806 46,240 44,237
Residential use 53,543 39,050 38,499 61,338 39,494 38,139
From which: public housing 4,124 3,029 2,981 5,607 3,338 3,213
Commercial 4,610 2,535 2,414 5,453 2,563 2,289
Other 12,769 6,034 5,076 9,015 4,183 3,809
Secured by assets/buildings under construction 1,433 245 191 1,914 413 295
Residential use 522 61 61 1,457 290 187
From which: public housing 8 1 1 57 11 10
Commercial 174 48 48 286 61 53
Other 737 136 82 171 62 55
Secured by land 410 139 126 2,580 334 187
Urban 8 5 2 - - -
Non-urban 402 134 124 2,580 334 187
  • (*) Not taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009
  • (**) Taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009

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December 2017. Nominal value of the total mortgage loans (Millions of euros)

Loan to Value (Last available appraisal risk)
Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% Over 60% but less than or equal to 80% Over 80% Total
Home mortgages 14,535 17,225 12,667 - 44,427
Other mortgages 1,827 1,749 3,576
Total 16,362 18,974 12,667 48,003

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December 2016. Nominal value of the total mortgage loans (Millions of euros)

Loan to Value (Last available appraisal risk)
Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% Over 60% but less than or equal to 80% Over 80% Total
Home mortgages 12,883 15,921 14,047 - 42,851
Other mortgages 2,150 1,986 4,136
Total 15,033 17,907 - 14,047 - 46,987

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Eligible and non eligible mortgage loans. Changes of the nominal values in the period (Millions of euros)

2017 2016
Eligible (*) Non eligible Eligible (*) Non eligible
Balance at the beginning 46,987 33,313 40,373 32,532
Retirements 9,820 15,015 7,458 11,489
Held-to-maturity cancellations 4,614 2,562 3,552 2,084
Anticipated cancellations 2,008 2,582 1,479 1,971
Subrogations to other institutions 33 23 37 30
Rest 3,165 9,848 2,390 7,404
Additions 10,835 6,464 14,072 12,270
Originated by the bank 2,645 3,392 10,051 9,523
Subrogations to other institutions 15 5 283 162
Rest 8,176 3,067 3,738 2,585
Balance at the end 48,003 24,762 46,987 33,313
  • (*) Not taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009

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Mortgage loans supporting the issuance of mortgage-covered bonds. Nominal value (Millions of euros)

December 2017 December 2016
Potentially eligible 2,471 2,237
Ineligible 613 680
Total 3,084 2,917

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b.2) Liabilities operations

Issued Mortgage Bonds (Millions of euros)

December 2017 December 2016
Nominal value Average residual maturity Nominal value Average residual maturity
Mortgage bonds - -
Mortgage-covered bonds (*) 20,153 29,085
Of which: Not recognized as liabilities on balance 4,088 4,414
Of Which: Outstanding 16,065 24,670
Debt securities issued through public offer 12,501 20,773
Residual maturity up to 1 year - 8,272
Residual maturity over 1 year and less than 2 years - -
Residual maturity over 2 years and less than 3 years 2,051 -
Residual maturity over 3 years and less than 5 years 4,000 4,801
Residual maturity over 5 years and less than 10 years 6,250 7,500
Residual maturity over 10 years 200 200
Debt securities issued without public offer 4,162 4,321
Residual maturity up to 1 year - 150
Residual maturity over 1 year and less than 2 years - -
Residual maturity over 2 years and less than 3 years 50 -
Residual maturity over 3 years and less than 5 years 1,500 1,550
Residual maturity over 5 years and less than 10 years 2,612 2,500
Residual maturity over 10 years - 121
Deposits 3,491 3,991
Residual maturity up to 1 year 791 460
Residual maturity over 1 year and less than 2 years 380 791
Residual maturity over 2 years and less than 3 years 246 380
Residual maturity over 3 years and less than 5 years 793 671
Residual maturity over 5 years and less than 10 years 571 839
Residual maturity over 10 years 710 850
Mortgage participations - 695
Issued through public offer - -
Issued without public offer - -
Mortgage transfer certificates 28,954 28,778
Issued through public offer 28,954 279 28,778 286
Issued without public offer - - -

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Given the characteristics of the type of covered bonds issued by the Bank, there is no substituting collateral related to these issues.

The Bank does not hold any derivative financial instruments relating to mortgage bond issues, as defined in the aforementioned Royal Decree.

APPENDIX XI Quantitative information on refinancing and restructuring operations and other requirement under Bank of Spain Circular 6/2012

a) Quantitative information on refinancing and restructuring operations

The breakdown of refinancing and restructuring operations as of December 31, 2017, 2016 and 2015 is as follows:

DECEMBER 2017 BALANCE OF FORBEARANCE (Millions of Euros)
TOTAL
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 69 105 135 430 112 302 18
Other financial corporations and individual entrepreneurs (financial business) 4,727 36 93 8 1 - 21
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 113,464 4,672 17,890 6,258 3,182 251 3,579
Of which: financing the construction and property (including land) 1,812 398 3,495 2,345 1,995 - 1,327
Rest homes (*) 163,101 1,325 109,776 8,477 6,891 18 1,373
Total 281,361 6,138 127,894 15,173 10,186 571 4,991
Of which: IMPAIRED
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 50 72 45 29 22 - 16
Other financial corporations and individual entrepreneurs (financial business) 126 5 16 2 0 - 5
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 95,427 2,791 10,994 4,144 1,983 66 3,361
Of which: financing the construction and property (including land) 1,538 208 2,779 1,961 1,273 - 1,282
Rest homes (*) 105,468 747 47,612 4,330 3,270 6 1,231
Total 201,071 3,615 58,667 8,506 5,275 72 4,612
  • (*) Number of operations does not include Garanti Bank
    Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.
    The accumulated impairment or accumulated losses in fair value due to credit risk correspond to €378 million of collective impairment losses and €4,612 million of specific impairment losses.

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DECEMBER 2016 BALANCE OF FORBEARANCE (Millions of Euros)
TOTAL
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 24 8 112 711 98 584 6
Other financial corporations and individual entrepreneurs (financial business) 3,349 59 71 18 5 - 8
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 125,328 5,057 25,327 9,643 4,844 124 5,310
Of which: financing the construction and property (including land) 1,519 496 5,102 4,395 694 - 2,552
Rest homes (*) 116,961 1,550 103,868 9,243 7,628 18 1,474
Total 245,662 6,674 129,378 19,615 12,576 726 6,798
Of which: IMPAIRED
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 12 8 53 33 27 - 4
Other financial corporations and individual entrepreneurs (financial business) 131 8 22 2 - - 5
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 103,310 2,857 16,327 6,924 3,002 53 4,986
Of which: financing the construction and property (including land) 1,191 304 4,188 3,848 494 - 2,499
Rest homes (*) 72,199 672 47,767 4,366 3,271 3 1,285
Total 175,652 3,545 64,169 11,325 6,300 57 6,281
  • (*) Number of operations does not include Garanti Bank
    Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.
    The accumulated impairment or accumulated losses in fair value due to credit risk correspond to €517 million of collective impairment losses and €6,281 million of specific impairment losses.

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DECEMBER 2015 BALANCE OF FORBEARANCE (Millions of Euros)
TOTAL
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 71 33 75 794 75 1,397 9
Other financial corporations and individual entrepreneurs (financial business) 261 49 97 14 16 - 174
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 43,807 7,184 28,897 12,754 4,866 854 6,104
Of which: financing the construction and property (including land) 2,899 1,109 8,042 5,842 2,917 8 3,072
Rest homes (*) 182,924 2,291 124,473 10,882 9,723 22 1,705
Total 227,063 9,557 153,542 24,443 14,681 2,273 7,993
Of which: IMPAIRED
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 31 13 7 5 3 - 6
Other financial corporations and individual entrepreneurs (financial business) 113 30 74 8 5 - 139
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 17,499 2,895 16,565 8,177 1,707 449 5,533
Of which: financing the construction and property (including land) 2,319 834 5,543 4,451 1,836 7 2,910
Rest homes (*) 80,652 772 44,195 4,172 2,897 11 1,454
Total 98,295 3,710 60,841 12,361 4,612 460 7,132

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In addition to the restructuring and refinancing transactions mentioned in this section, loans that were not considered impaired or renegotiated have been modified based on the criteria set out in paragraph 59 (c) of IAS 39. These loans have not been classified as renegotiated or impaired, since they were modified for commercial or competitive reasons (for instance, to improve relationships with clients) rather than for economic or legal reasons relating to the borrower's financial situation.

The table below provides a roll forward of refinanced assets during 2017 and 2016:

Refinanced assets Roll forward. December 2017 (Millions of euros)

Normal Impaired TOTAL
Risk Coverage Risk Coverage Risk Coverage
Balance at the beginning 11,418 517 14,869 6,281 26,288 6,798
(+) Additions 3,095 182 1,614 599 4,709 781
(-) Decreases (payments or repayments) (2,462) (145) (2,754) (1,180) (5,216) (1,325)
(-) Foreclosures (2) - (463) (267) (465) (267)
(-) Write-offs (63) (2) (1,667) (1,413) (1,730) (1,415)
(+)/(-) Other (2,795) (174) 521 593 (2,275) 419
Ending Balance 9,191 378 12,120 4,612 21,311 4,991

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Refinanced assets Roll forward. December 2016 (Millions of euros)

Normal Impaired TOTAL
Risk Coverage Risk Coverage Risk Coverage
Balance at the beginning 17,929 861 16,071 7,132 34,000 7,993
(+) Additions 2,523 279 1,655 712 4,178 991
(-) Decreases (payments or repayments) (2,788) (366) (1,754) (835) (4,542) (1,201)
(-) Foreclosures (3) - (174) (84) (177) (84)
(-) Write-offs (52) (1) (1,230) (841) (1,282) (842)
(+)/(-) Other (6,191) (256) 301 196 (5,890) (60)
Ending Balance 11,418 517 14,869 6,281 26,288 6,798

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The table below provides a breakdown by segments of the forbearance operations (net of provisions) as of December 31, 2017, 2016 and 2015:

Forbearance operations. Breakdown by segments (Millions of euros)

December 2017 December 2016 December 2015
Credit institutions
Central governments 518 713 818
Other financial corporations and individual entrepreneurs (financial activity) 24 69 (112)
Non-financial corporations and individual entrepreneurs (non-financial activity) 7,351 9,390 13,833
Of which: Financing the construction and property development (including land) 1,416 2,339 3,879
Households 8,428 9,319 11,468
Total carrying amount 16,321 19,491 26,007
Financing classified as non-current assets and disposal groups held for sale - - -

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NPL ratio by type of renegotiated loan

The non performing ratio of the renegotiated portfolio is defined as the impaired balance of renegotiated loans that shows signs of difficulties as of the closing of the reporting period, divided by the total payment outstanding in that portfolio.

As of December 31, 2017 and 2016, the non performing ratio for each of the portfolios of renegotiated loans is as follows:

December 2017. NPL ratio renegotiated loan portfolio

Ratio of Impaired loans - Past due
General governments 19%
Commercial 63%
Of which: Construction and developer 79%
Other consumer 52%

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59% of the renegotiated loans classified as impaired was for reasons other than default (delinquency).

December 2016. NPL ratio renegotiated loan portfolio

Ratio of Impaired loans - Past due
General governments 6%
Commercial 67%
Of which: Construction and developer 85%
Other consumer 47%

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56% of the renegotiated loans classified as impaired was for reasons other than default (delinquency)

b) Quantitative information on the concentration of risk by activity and guarantees

Loans and advances to customers by activity (carrying amount)

December 2017 (Millions of Euros)

Collateralized loans and receivables -Loans and advances to customers. Loan to value
TOTAL (*) Of which: Mortgage loans Of which: Secured loans Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% but less than or equal to 80% Over 80% but less than or equal to 100% Over 100%
1 General governments 32,294 998 7,167 1,540 179 475 532 5,440
2 Other financial institutions 18,669 319 12,910 314 277 106 11,349 1,183
3 Non-financial institutions and individual entrepreneurs 172,338 39,722 24,793 11,697 5,878 5,183 9,167 32,591
3.1 Construction and property development 14,599 10,664 1,066 1,518 876 1,049 1,313 6,974
3.2 Construction of civil works 7,733 1,404 521 449 358 289 162 667
3.3 Other purposes 150,006 27,654 23,206 9,729 4,644 3,845 7,692 24,950
3.3.1 Large companies 93,604 10,513 16,868 2,769 1,252 1,023 3,631 18,706
3.3.2 SMEs (**) and individual entrepreneurs 56,402 17,142 6,338 6,960 3,392 2,823 4,061 6,244
4 Rest of households and NPISHs (***) 165,024 114,558 8,395 19,762 22,807 25,595 22,122 32,667
4.1 Housing 114,709 111,604 128 18,251 22,222 25,029 21,154 25,076
4.2 Consumption 40,705 670 4,784 1,058 256 192 316 3,632
4.3 Other purposes 9,609 2,284 3,483 452 330 374 652 3,959
SUBTOTAL 388,325 155,597 53,266 33,312 29,142 31,359 43,170 71,882
5 Less: Valuation adjustments due to impairment of assets not attributable to specific operations - - - - - - - -
6 TOTAL 388,325 155,597 53,266 33,312 29,142 31,359 43,170 71,882
MEMORANDUM:
Forbearance operations (****) 16,321 6,584 5,117 1,485 1,315 1,871 1,580 5,451
  • (*) The amounts included in this table are net of impairment losses.
  • (**) Small and medium enterprises
  • (***) Nonprofit institutions serving households.
  • (****) Net of provisions except valuation adjustments due to impairment of assets not attributable to specific operations.

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December 2016 (Millions of Euros)

Collateralized Credit Risk. Loan to value
TOTAL (*) Of which: Mortgage loans Of which: Secured loans Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% but less than or equal to 80% Over 80% but less than or equal to 100% Over 100%
1 General governments 34,820 4,722 3,700 380 715 1,266 2,740 3,320
2 Other financial institutions 17,181 800 8,168 650 464 319 6,846 690
3 Non-financial institutions and individual entrepreneurs 183,871 47,105 22,663 17,000 13,122 11,667 14,445 13,533
3.1 Construction and property development 19,283 12,888 1,736 3,074 4,173 3,843 2,217 1,316
3.2 Construction of civil works 8,884 1,920 478 508 547 469 379 494
3.3 Other purposes 155,704 32,297 20,449 13,417 8,402 7,356 11,850 11,722
3.3.1 Large companies 107,550 16,041 16,349 7,311 5,149 4,777 7,160 7,993
3.3.2 SMEs (**) and individual entrepreneurs 48,154 16,257 4,100 6,106 3,253 2,579 4,689 3,729
4 Rest of households and NPISHs (***) 178,781 129,590 5,257 21,906 24,764 34,434 34,254 19,489
4.1 Housing 127,606 124,427 477 18,802 23,120 32,713 32,148 18,122
4.2 Consumption 44,504 3,181 3,732 2,535 1,278 1,230 1,322 547
4.3 Other purposes 6,671 1,982 1,048 569 366 491 784 820
SUBTOTAL 414,654 182,216 39,789 39,936 39,065 47,687 58,286 37,032
5 Less: Valuation adjustments due to impairment of assets not attributable to specific operations - - - - - - - -
6 TOTAL 414,654 182,216 39,789 39,936 39,065 47,687 58,286 37,032
MEMORANDUM:
Forbearance operations (****) 19,491 8,031 6,504 3,703 1,845 2,316 2,091 4,580
  • (*) The amounts included in this table are net of impairment losses.
  • (**) Small and medium enterprises
  • (***) Nonprofit institutions serving households.
  • (****) Net of provisions

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December 2015 (Millions of Euros)

Collateralized Credit Risk. Loan to value
TOTAL (*) Of which: Mortgage loans Of which: Secured loans Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% but less than or equal to 80% Over 80% but less than or equal to 100% Over 100%
1 General governments 38,555 4,483 3,868 643 690 1,088 2,506 3,424
2 Other financial institutions 14,319 663 6,098 710 474 302 4,610 666
3 Non-financial institutions and individual entrepreneurs 184,203 47,773 24,034 20,400 14,931 11,480 12,491 12,506
3.1 Construction and property development 19,914 13,295 1,682 3,148 5,465 3,663 1,911 789
3.2 Construction of civil works 9,687 2,322 1,023 827 615 576 373 954
3.3 Other purposes 154,602 32,157 21,329 16,425 8,850 7,242 10,207 10,763
3.3.1 Large companies 96,239 11,959 15,663 6,207 4,569 4,248 5,627 6,971
3.3.2 SMEs (**) and individual entrepreneurs 58,363 20,198 5,665 10,218 4,281 2,993 4,579 3,792
4 Rest of households and NPISHs (***) 181,385 132,358 5,397 24,737 34,007 46,885 23,891 8,235
4.1 Housing 127,260 124,133 513 20,214 31,816 44,506 21,300 6,810
4.1 Consumption 42,211 3,627 3,738 2,311 1,156 1,398 2,118 381
4.3 Other purposes 11,914 4,599 1,146 2,212 1,035 982 472 1,043
SUBTOTAL 418,462 185,278 39,396 46,490 50,102 59,756 43,498 24,830
5 Less: Valuation adjustments due to impairment of assets not attributable to specific operations 4,233 - - - - - - -
6 OTAL 414,230 185,278 39,396 46,490 50,102 59,756 43,498 24,830
MEMORANDUM:
Forbearance operations (****) 26,080 10,931 7,457 2,728 1,797 2,575 4,665 6,623
  • (*) The amounts included in this table are net of impairment losses.
  • (**) Small and medium enterprises
  • (***) Nonprofit institutions serving households.
  • (****) Net of provisions except valuation adjustments due to impairment of assets not attributable to specific operations.

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c) Information on the concentration of risk by activity and geographical areas.

December 2017 (Millions of euros)

TOTAL (*) Spain European Union Other America Other
Credit institutions 70,141 10,606 34,623 13,490 11,422
General governments 121,863 55,391 11,940 44,191 10,341
Central Administration 83,673 35,597 11,625 26,211 10,240
Other 38,190 19,794 316 17,980 101
Other financial institutions 48,000 19,175 14,283 12,469 2,074
Non-financial institutions and individual entrepreneurs 228,227 78,507 20,485 80,777 48,458
Construction and property development 18,619 4,623 339 8,834 4,822
Construction of civil works 12,348 6,936 1,302 2,267 1,843
Other purposes 197,260 66,948 18,843 69,676 41,793
Large companies 134,454 43,286 17,470 48,016 25,681
SMEs and individual entrepreneurs 62,807 23,662 1,373 21,660 16,112
Other households and NPISHs 165,667 93,774 3,609 53,615 14,669
Housing 114,710 81,815 2,720 24,815 5,361
Consumer 40,705 8,711 649 22,759 8,587
Other purposes 10,251 3,248 241 6,041 721
SUBTOTAL 633,899 257,453 84,940 204,542 86,964
Less: Valuation adjustments due to impairment of assets not attributable to specific operations - - - - -
TOTAL 633,899 257,453 84,940 204,542 86,964
  • (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: Loans and advances to credit institutions, Loans and advances, Debt securities, Equity instruments, Other equity securities, Derivatives and hedging derivatives, Investments in subsidiaries, joint ventures and associates and guarantees given and Contingent risks. The amounts included in this table are net of impairment losses.

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December 2016 (Millions of euros)

TOTAL (*) Spain European Union Other America Other
Credit institutions 84,381 12,198 40,552 17,498 14,133
General governments 134,261 61,495 14,865 47,072 10,829
Central Administration 92,155 39,080 14,550 27,758 10,768
Other 42,105 22,415 315 19,314 61
Other financial institutions 47,029 16,942 14,881 12,631 2,576
Non-financial institutions and individual entrepreneurs 249,322 69,833 26,335 98,797 54,357
Construction and property development 23,141 5,572 371 11,988 5,209
Construction of civil works 14,185 6,180 2,493 3,803 1,709
Other purposes 211,996 58,080 23,471 83,005 47,439
Large companies 158,356 35,514 22,074 64,940 35,828
SMEs and individual entrepreneurs 53,640 22,566 1,397 18,065 11,611
Other households and NPISHs 179,051 96,345 3,796 62,836 16,073
Housing 127,607 85,763 3,025 32,775 6,044
Consumer 44,504 7,230 642 27,398 9,234
Other purposes 6,939 3,352 129 2,663 795
SUBTOTAL 694,044 256,813 100,428 238,834 97,968
Less: Valuation adjustments due to impairment of assets not attributable to specific operations - - - - -
TOTAL 694,044 100,428 97,968 238,834 97,968
  • (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: Loans and advances to credit institutions, Loans and advances to customers, Debt securities, Equity instruments, Other equity securities, Derivatives, Trading Derivatives, Derivatives – Hedge accounting derivatives, Investments in subsidiaries, joint ventures and associates and guarantees given and Contingent risks. The amounts included in this table are net of impairment losses.

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December 2015 (Millions of euros)

TOTAL (*) Spain European Union Other América Other
Credit institutions 81,106 13,014 37,738 20,675 9,679
General governments 151,919 74,931 14,393 50,242 12,354
Central Administration 107,118 48,617 13,786 32,401 12,314
Other 44,801 26,314 607 17,840 40
Other financial institutions 46,744 16,768 13,623 13,324 3,029
Non-financial institutions and individual entrepreneurs 248,207 72,710 26,561 94,632 54,305
Construction and property development 23,484 5,862 278 11,946 5,397
Construction of civil works 15,540 8,687 2,149 3,497 1,207
Other purposes 209,183 58,161 24,134 79,188 47,701
Large companies 144,990 34,358 22,399 52,704 35,529
SMEs and individual entrepreneurs 64,193 23,803 1,734 26,484 12,172
Other households and NPISHs 182,335 100,510 3,832 61,084 16,910
Housing 127,261 88,185 3,103 29,794 6,179
Consumer 42,221 6,728 649 24,799 10,044
Other purposes 12,853 5,597 80 6,490 686
SUBTOTAL 710,311 277,932 96,146 239,956 96,276
Less: Valuation adjustments due to impairment of assets not attributable to specific operations (4,313) - - - -
TOTAL 705,998 277,932 96,146 239,956 96,276
  • (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: Loans and advances to credit institutions, Loans and advances to customers, Debt securities, Equity instruments, Other equity securities, Derivatives, Trading Derivatives, Derivatives – Hedge accounting derivatives, Investments in subsidiaries, joint ventures and associates and guarantees given and Contingent risks. The amounts included in this table are net of impairment losses.

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APPENDIX XII Additional information on Risk Concentration

a) Sovereign risk exposure

The table below provides a breakdown of exposure to financial assets (excluding derivatives and equity instruments), as of December 31, 2017, 2016 and 2015 by type of counterparty and the country of residence of such counterparty. The below figures do not take into account accumulated other comprehensive income, impairment losses or loan-loss provisions:

Risk Exposure by Countries (Millions of euros)

Sovereign Risk (*)
December 2017 December 2016 December 2015
Spain 54,625 60,434 74,020
Turkey 9,825 10,478 12,037
Italy 9,827 12,206 10,694
France 383 518 1,029
Portugal 722 586 704
Germany 259 521 560
United Kingdom 41 17 4
Ireland - - 1
Greece - - -
Rest of Europe 662 940 1,278
Subtotal Europe 76,343 85,699 100,327
Mexico 25,114 26,942 22,192
The United States 14,059 16,039 11,378
Venezuela 137 179 152
Rest of countries 5,809 3,814 3,711
Subtotal Rest of Countries 45,119 46,974 137,760
Total Exposure to Financial Instruments 121,462 132,674 238,087
  • (*) In addition, as of December 31, 2017, 2016 and 2015, undrawn lines of credit, granted mainly to the Spanish General Governments and amounted to €1,827 million, €2,864 million and €2,584 million, respectively.

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The exposure to sovereign risk set out in the above table includes positions held in government debt securities in countries where the Group operates. They are used for ALCO’s management of the interest-rate risk on the balance sheets of the Group’s entities in these countries, as well as for hedging of pension and insurance commitments by insurance entities within the BBVA Group.

Sovereign risk exposure in Europe

The table below provides a breakdown of the exposure of the Group’s credit institutions to European sovereign risk as of December 31, 2017 and December 2016 by type of financial instrument and the country of residence of the counterparty, under EBA (European Banking Authority) requirements:

Exposure to Sovereign Risk by European Union Countries. December 2017 (Millions of euros)

Derivatives
Debt securities Direct exposure Indirect exposure
Financial Assets Held-for- Trading Available-for- Sale Financial Assets Held -to- maturity investment Loans and receivables Notional value Fair value + Fair value - Notional value Fair value + Fair value - Total %
Spain 7,065 14,029 5,754 22,101 1,513 62 (15) 591 1,082 (773) 51,410 75%
Italy 4,606 4,292 2,349 55 - - - (57) 648 (237) 11,657 17%
France 622 8 - 27 - - - 329 15 (19) 983 1%
Germany 517 - - - - - - 826 26 (17) 1,352 2%
Portugal 832 1 - 202 1,019 1 (44) 176 87 (53) 2,221 3%
United Kingdom - - - 37 - - - (2) - - 35 -
Greece - - - - - - - - - - - -
Hungary - - - - - - - - - - - -
Ireland - - - - - - - - - - - -
Rest of European Union 38 505 - 32 - - - 31 5 (5) 607 1%
Total Exposure to Sovereign Counterparties (European Union) 13,681 18,835 8,103 22,453 2,533 64 (59) 1,896 1,863 (1,104) 68,265 100%

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This table shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of the Group’s insurance companies (€10,474 million as of December 31, 2017) is not included. Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

Exposure to Sovereign Risk by European Union Countries. December 2016 (Millions of euros)

Derivatives
Debt securities Direct exposure Indirect exposure
Financial Assets Held-for- Trading Available-for- Sale Financial Assets Held -to- maturity investment Loans and receivables Notional value Fair value + Fair value - Notional value Fair value + Fair value - Total %
Spain 927 13,385 8,063 24,835 1,786 88 (27) (744) 993 (1,569) 47,737 81%
Italy 1,973 4,806 2,719 60 - - - (1,321) 1,271 (866) 8,641 15%
France 250 - - 28 - - - (13) 46 (63) 248 -
Germany 82 - - - - - - (5) 203 (249) 30 -
Portugal 54 1 - 285 1,150 - (215) 10 1 (6) 1,280 2%
United Kingdom - - - 16 - - - (9) 1 - 8 -
Greece - - - - - - - - - - - -
Hungary - - - - - - - - - - - -
Ireland - - - - - - - - - - - -
Rest of European Union 195 469 - 36 - - - 30 13 (6) 736 1%
Total Exposure to Sovereign Counterparties (European Union) 3,482 18,660 10,783 25,259 2,936 88 (242) (2,053) 2,527 (2,759) 58,680 100%

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This table shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of the Group’s insurance companies (€10,443 million as of December 31, 2016) is not included. Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

Exposure to Sovereign Risk by European Union Countries (1). December 2015 (Millions of euros)

Derivatives (2)
Debt securities Direct exposure Indirect exposure
Financial Assets Held-for- Trading Available-for- Sale Financial Assets Held -to- maturity investment Loans and receivables Notional value Fair value + Fair value - Notional value Fair value + Fair value - Total %
Spain 5,293 31,621 - 26,111 1,871 125 (37) (1,785) 82 (84) 63,112 86%
Italy 1,205 7,385 - 80 - - - 258 12 (26) 8,656 12%
France 531 10 - 34 - - - 141 2 (31) 546 1%
Germany 162 - - - - - - 166 - (21) 141 -
Portugal 179 1 - 428 1,161 2 (225) 90 1 (1) 384 1%
United Kingdom - - - - - - - 13 2 (1) 2 -
Greece - - - - - - - - - - - -
Hungary - - - - - - - - - - - -
Ireland 1 - - - - - - - - - 1 -
Rest of European Union 319 429 - 38 - - - 33 15 (8) 794 1%
Total Exposure to Sovereign Counterparties (European Union) 7,689 39,446 - 26,691 3,033 127 (263) (1,084) 115 (172) 73,634 100%

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This table shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of the Group’s insurance companies (€6,300 million as of December 31, 2016) is not included. Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

As of December 31, 2017, 2016 and 2015 the breakdown of total exposure faced by the Group’s credit institutions to Spain and other countries, by maturity of the financial instruments, is as follows:

Maturities of Sovereign Risks European Union. December 2017 (Millions of euros)

Derivatives
Debt securities Direct exposure Indirect exposure
Financial Assets Held-for- Trading Available-for-Sale Financial Assets Held -to- maturity investment Loans and receivables Notional value Fair value + Fair value - Notional value Fair value + Fair value - Total %
Spain 7,065 14,029 5,754 22,101 1,513 62 (15) 591 1,082 (773) 51,410 75%
Up to 1 Year 1,675 3,363 2,900 7,852 69 1 - 591 1,082 (773) 12,312 25%
1 to 5 Years 2,196 1,335 106 7,978 1,131 44 (1) - - - 16,883 19%
Over 5 Years 3,195 9,332 2,747 6,271 314 17 (14) - - - 22,215 32%
Rest of European Union 6,616 4,806 2,349 352 1,019 1 (44) 1,305 781 (331) 16,856 25%
Up to 1 Year 2,212 1,663 1,895 54 466 1 (6) 744 756 (252) 3,614 11%
1 to 5 Years 2,932 192 - 162 3 - - 243 17 (21) 7,313 5%
Over 5 Years 1,473 2,951 454 137 550 - (38) 318 8 (58) 5,928 8%
Total Exposure to European Union Sovereign Counterparties 13,681 18,835 8,103 22,453 2,533 64 (59) 1,896 1,863 (1,104) 68,265 100%

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Maturities of Sovereign Risks European Union. December 2016 (Millions of euros)

Derivatives
Debt securities Direct exposure Indirect exposure
Financial Assets Held-for- Trading Available-for-Sale Financial Assets Held -to- maturity investment Loans and receivables Notional value Fair value + Fair value - Notional value Fair value + Fair value - Total %
Spain 927 13,385 8,063 24,835 1,786 88 (27) (744) 993 (1,569) 47,737 81%
Up to 1 Year 913 889 1,989 9,087 - - - (736) 993 (1,564) 11,571 20%
1 to 5 Years 1,272 3,116 3,319 7,059 1,209 32 (1) (3) - - 16,004 27%
Over 5 Years (1,259) 9,380 2,755 4,595 577 56 (27) (6) - (4) 16,068 27%
Rest of European Union 2,554 5,275 2,719 424 1,150 - (215) (1,309) 1,534 (1,191) 10,943 19%
Up to 1 Year (395) 38 - 2 - - - (1,721) 1,507 (1,054) (1,623) -3%
1 to 5 Years 1,535 2,050 1,958 247 381 - (12) 194 19 (50) 6,322 11%
Over 5 Years 1,414 3,186 761 175 770 - (203) 218 8 (86) 6,243 11%
Total Exposure to European Union Sovereign Counterparties 3,482 18,660 10,783 25,259 2,936 88 (242) (2,053) 2,527 (2,759) 58,680 100%

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Maturities of Sovereign Risks European Union. December 2015 (Millions of euros)

Derivatives (2)
Debt securities Direct exposure Indirect exposure
Financial Assets Held-for- Trading Available-for- Sale Financial Assets Held -to- maturity investment Loans and receivables Notional value Fair value + Fair value - Notional value Fair value + Fair value - Total %
Spain 5,293 31,621 - 26,111 1,871 125 (37) (1,785) 82 (84) 63,112 86%
Up to 1 Year 4,552 5,665 - 10,267 242 2 (19) (1,721) 79 (77) 20,469 28%
1 to 5 Years 662 11,890 - 10,693 932 25 (1) (48) - (1) 23,269 32%
Over 5 Years 79 14,067 - 5,151 698 98 (17) (17) 3 (7) 19,373 26%
Rest of European Union 2,396 7,825 - 580 1,161 2 (225) 702 32 (88) 10,522 14%
Up to 1 Year 1,943 40 - 24 319 2 (4) 292 5 (6) 2,005 3%
1 to 5 Years 237 4,150 - 245 - - - 161 23 (29) 4,626 6%
Over 5 Years 216 3,635 - 311 842 - (221) 248 4 (53) 3,891 5%
Total Exposure to European Union Sovereign Counterparties 7,689 39,446 - 26,691 3,033 127 (263) (1,084) 115 (172) 73,634 100%

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b) Concentration of risk on activities in the real-estate market in Spain

Quantitative information on activities in the real-estate market in Spain

The following quantitative information on real-estate activities in Spain has been prepared using the reporting models required by Bank of Spain Circular 5/2011, of November 30.

As of December 31, 2017, 2016 and 2015, exposure to the construction sector and real-estate activities in Spain stood at €11,981, €15,285 and €18,744 million, respectively. Of that amount, risk from loans to construction and real-estate development activities accounted for €5,224, €7,930 and €9,681 million, respectively, representing 2.9%, 5.0% and 6.0% of loans and advances to customers of the balance of business in Spain (excluding the general governments) and 0.8%, 1.1% and 1.3% of the total assets of the Consolidated Group.

Lending for real estate development of the loans as of December 31, 2017, 2016 and 2015 is shown below:

December 2017. Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase (Millions of euros)

Gross Amount Drawn Over the Guarantee Value Accumulated impairment
Financing to construction and real estate development (including land) (Business in Spain) 5,224 2,132 (1,500)
Of which: Impaired assets 2,660 1,529 (1,461)
Memorandum item:
Write-offs 2,289
Memorandum item:
Total loans and advances to customers, excluding the General Governments (Business in Spain) 174,014
Total consolidated assets (total business) 690,059
Impairment and provisions for normal exposures (5,843)

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December 2016. Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase (Millions of euros)

Gross Amount Drawn Over the Guarantee Value Accumulated impairment
Financing to construction and real estate development (including land) (Business in Spain) 7,930 3,449 (2,944)
Of which: Impaired assets 5,095 2,680 (2,888)
Memorandum item:
Write-offs 2,061
Memorandum item:
Total loans and advances to customers, excluding the General Governments (Business in Spain) 159,492
Total consolidated assets (total business) 731,856
Impairment and provisions for normal exposures (5,830)

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December 2015. Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase (Millions of euros)

Gross Amount Drawn Over the Guarantee Value Accumulated impairment
Financing to construction and real estate development (including land) (Business in Spain) 9,681 4,132 (3,801)
Of which: Impaired assets 6,231 3,087 (3,600)
Memorandum item:
Write-offs 1,741
Memorandum item:
Total loans and advances to customers, excluding the General Governments (Business in Spain) 161,416
Total consolidated assets (total business) 749,855
Impairment and provisions for normal exposures (4,549)

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The following is a description of the real estate credit risk based on the types of associated guarantees:

Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase (Millions of euros)

2017 2016 2015
Without secured loan 552 801 1,157
With secured loan 4,672 7,129 8,524
Terminated buildings 2,904 3,875 4,941
Homes 2,027 2,954 4,112
Other 877 921 829
Buildings under construction 462 760 688
Homes 439 633 660
Other 23 127 28
Land 1,306 2,494 2,895
Urbanized land 704 1,196 1,541
Rest of land 602 1,298 1,354
Total 5,224 7,930 9,681

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As of December 31, 2017, 2016 and 2015, 55.6%,48.9% and 51.0% of loans to developers were guaranteed with buildings (76.4% and 76.2%, are homes), and only 25.0%, 31.5% and 29,9% by land, of which 53.9%, 48.0% and 52,2% are in urban locations, respectively.

The table below provides the breakdown of the financial guarantees given as of December 31, 2017, 2016 and 2015:

Financial guarantees given (Millions of euros)

December 2017 December 2016 December 2015
Houses purchase loans 64 62 57
Without mortgage 12 18 23

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The information on the retail mortgage portfolio risk (housing mortgage) as of December 31, 2017, 2016 and 2015 is as follows:

Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase. December 2017(Millions of euros)


Gross amount Of which: impaired loans
Houses purchase loans 83,505 4,821
Without mortgage 1,578 51
With mortgage 81,927 4,770

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Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase. December 2016 (Millions of euros

Gross amount Of which: impaired loans
Houses purchase loans 87,874 4,938
Without mortgage 1,935 93
With mortgage 85,939 4,845

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Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase. December 2015 (Millions of euros

Gross amount Of which: impaired loans
Houses purchase loans 91,150 4,869
Without mortgage 1,480 24
With mortgage 89,670 4,845

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The loan to value (LTV) ratio of the above portfolio is as follows:

LTV Breakdown of mortgage to households for the purchase of a home (Business in Spain) (Millions of euros).

Total risk over the amount of the last valuation available (Loan To Value-LTV)
Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% but less than or equal to 80% Over 80% but less than or equal to 100% Over 100% Total
Gross amount 2017 14,485 18,197 20,778 14,240 14,227 81,927
of which: Impaired loans 293 444 715 897 2,421 4,770
Gross amount 2016 13,780 18,223 20,705 15,967 17,264 85,939
of which: Impaired loans 306 447 747 962 2,383 4,845
Gross amount 2015 18,294 27,032 30,952 7,489 5,903 89,670
of which: Impaired loans 202 392 771 991 2,489 4,845

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Outstanding home mortgage loans as of December 31, 2017, 2016 and 2015 had an average LTV of 51%, 47% and 46% respectively.

The breakdown of foreclosed, acquired, purchased or exchanged assets from debt from loans relating to business in Spain, as well as the holdings and financing to non-consolidated entities holding such assets is as follows:

Information about Assets Received in Payment of Debts (Business in Spain) (Millions of euros)

December 2017
Gross value Provisions Of which: Valuation adjustments on impaired assets, from the time of foreclosure Carrying Amount
Real estate assets from loans to the construction and real estate development sectors in Spain. 6,429 4,350 2,542 2,079
Terminated buildings 2,191 1,184 606 1,007
Homes 1,368 742 366 626
Other 823 442 240 381
Buildings under construction 541 359 192 182
Homes 521 347 188 174
Other 20 12 4 8
Land 3,697 2,807 1,744 890
Urbanized land 1,932 1,458 1,031 474
Rest of land 1,765 1,349 713 416
Real estate assets from mortgage financing for households for the purchase of a home 3,592 2,104 953 1,488
Rest of foreclosed real estate assets 1,665 905 268 760
Equity instruments, investments and financing to non-consolidated companies holding said assets 1,135 325 273 810
Total 12,821 7,684 4,036 5,137

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Additionally, in March 2017, there was an increase of BBVA, S.A.’s stake in Testa Residencial, S.A. through its contribution to the capital increase carried out by the latter entity by contributing assets from the Bank’s real estate assets.

Information about Assets Received in Payment of Debts (Business in Spain) (Millions of euros)

December 2016
Provisions Of which: Valuation adjustments on impaired assets, from the time of foreclosure Carrying Amount
Real estate assets from loans to the construction and real estate development sectors in Spain. 8,017 5,290 2,790 2,727
Terminated buildings 2,602 1,346 688 1,256
Homes 1,586 801 408 785
Other 1,016 545 280 471
Buildings under construction 665 429 203 236
Homes 642 414 195 228
Other 23 15 8 8
Land 4,750 3,515 1,899 1,235
Urbanized land 3,240 2,382 1,364 858
Rest of land 1,510 1,133 535 377
Real estate assets from mortgage financing for households for the purchase of a home 4,332 2,588 1,069 1,744
Rest of foreclosed real estate assets 1,856 1,006 225 850
Equity instruments, investments and financing to non-consolidated companies holding said assets 1,240 549 451 691
Total 15,445 9,433 4,535 6,012

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Information about Assets Received in Payment of Debts (Business in Spain) (Millions of euros)

December 2015
Gross Value Provisions Of which: Valuation adjustments on impaired assets, from the time of foreclosure Carrying Amount
Real estate assets from loans to the construction and real estate development sectors in Spain. 8,938 5,364 2,838 3,574
Finished buildings 2,981 1,498 737 1,483
Homes 1,606 767 388 839
Other 1,375 731 349 644
Buildings under construction 745 422 204 323
Homes 714 400 191 314
Other 31 22 13 9
Land 5,212 3,444 1,897 1,768
Urbanized land 3,632 2,404 1,366 1,228
Rest of land 1,580 1,040 531 540
Real estate assets from mortgage financing for households for the purchase of a home 4,937 2,687 1,143 2,250
Rest of foreclosed real estate assets 1,368 678 148 690
Foreclosed equity instruments 895 532 433 363
Total 16,138 9,261 4,562 6,877

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As of December 31, 2017, 2016 and 2015, the gross book value of the Group’s real-estate assets from corporate financing of real-estate construction and development was €6,429, €8,017 and €8,938 million, respectively, with an average coverage ratio of 67.7%, 66.0% and 60,0%, respectively.

The gross book value of real-estate assets from mortgage lending to households for home purchase as of December 31, 2017, 2016 and 2015, amounted to €3,592, €4,332 and €4,937 million, respectively, with an average coverage ratio of 58.6%, 59.7% and 54.4%.

As of December 31, 2017, 2016 and 2015, the gross book value of the BBVA Group’s total real-estate assets (business in Spain), including other real-estate assets received as debt payment, was €11,686, €14,205 and €15,243 million, respectively. The coverage ratio was 63.0%, 62.5% and 57.3%, respectively.

c) Concentration of risk by geography

Below is a breakdown of the balances of financial instruments registered in the accompanying consolidated balance sheets by their concentration in geographical areas and according to the residence of the customer or counterparty as of December 31, 2017, 2016 and 2015. It does not take into account impairment losses or loan-loss provisions:

Risks by Geographical Areas. December 2017 (millions of euros)

Spain Europe, Excluding Spain Mexico USA Turkey South America Other Total
Derivatives 6,336 20,506 1,847 4,573 113 977 921 35,273
Equity instruments (*) 3,539 4,888 2,050 991 36 333 71 11,908
Debt securities 44,773 15,582 21,594 13,280 10,601 5,861 1,450 113,140
Central banks - - - - - 2,685 49 2,734
General governments 36,658 11,475 19,323 8,894 9,668 2,246 221 88,485
Credit institutions 1,364 2,095 289 98 884 387 752 5,869
Other financial corporations 6,492 994 337 3,026 7 315 194 11,365
Non-financial corporations 259 1,018 1,645 1,262 42 228 234 4,688
Loans and advances 185,597 41,426 50,352 54,315 56,062 42,334 4,585 434,670
Central banks - 626 - - 5,299 1,375 - 7,300
General governments 18,116 352 5,868 5,165 152 2,354 398 32,405
Credit institutions 5,564 15,493 1,889 789 1,073 1,145 345 26,297
Other financial corporations 7,769 6,231 588 1,732 1,297 664 270 18,551
Non-financial corporations 54,369 14,615 19,737 29,396 31,691 19,023 3,345 172,175
Households 99,780 4,110 22,269 17,233 16,550 17,773 227 177,942
Total Risk in Financial Assets 240,245 82,401 75,842 73,159 66,812 49,504 7,027 594,991
Loan commitments given 31,100 16,203 1,691 29,539 2,944 11,664 1,126 94,268
Financial guarantees given 4,635 1,427 82 717 7,993 1,174 519 16,545
Other Commitments given 25,279 9,854 1,582 1,879 1,591 3,750 1,804 45,738
Off-balance sheet exposures 61,014 27,484 3,356 32,134 12,527 16,588 3,450 156,551
Total Risks in Financial Instruments 301,259 109,885 79,198 105,293 79,339 66,092 10,477 751,542
  • (*) Equity instruments are shown net of valuation adjustment.

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Risks by Geographical Areas. December 2016 (millions of euros)

Spain Europe, Excluding Spain Mexico USA Turkey South America Other Total
Derivatives 7,143 26,176 2,719 4,045 175 1,359 1,339 42,955
Equity instruments (*) 4,641 2,303 2,383 831 57 316 706 11,236
Debt securities 49,355 20,325 22,380 18,043 11,695 7,262 1,923 130,983
Central banks - - - - - 2,237 16 2,253
General governments 40,172 14,282 19,771 11,446 10,258 2,257 240 98,426
Credit institutions 1,781 2,465 257 112 1,331 1,459 869 8,275
Other financial corporations 6,959 1,181 352 4,142 15 347 379 13,376
Non-financial corporations 443 2,397 2,000 2,343 90 961 418 8,653
Loans and advances 187,717 45,075 52,230 61,739 61,090 58,020 5,067 470,938
Central banks - 158 21 - 5,722 2,994 - 8,894
General governments 20,741 424 7,262 4,593 217 1,380 256 34,873
Credit institutions 5,225 19,154 1,967 1,351 1,194 1,515 1,011 31,416
Other financial corporations 5,339 6,213 1,171 1,648 1,620 886 214 17,091
Non-financial corporations 54,112 14,818 19,256 34,330 34,471 26,024 3,371 186,384
Households 102,299 4,308 22,552 19,818 17,866 25,221 216 192,281
Total Risk in Financial Assets 248,856 93,880 79,712 84,657 73,016 66,956 9,036 656,112
Loan commitments given 31,477 19,219 13,060 34,449 2,912 5,161 976 107,254
Financial guarantees given 1,853 3,504 121 819 9,184 2,072 714 18,267
Other Commitments given 16,610 14,154 1,364 2,911 2,002 3,779 1,771 42,592
Off-balance sheet exposures 49,940 36,878 14,545 38,179 14,098 11,012 3,461 168,113
Total Risks in Financial Instruments 298,796 130,757 94,257 122,836 87,114 77,968 12,497 824,225
  • (*) Equity instruments are shown net of valuation adjustment.

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Risks by Geographical Areas. December 2015 (millions of euros)

Spain Europe, Excluding Spain Mexico USA Turkey South America Other Total
Derivatives 7,627 25,099 1,707 2,989 139 2,116 1,225 40,902
Equity instruments (*) 5,061 2,103 2,328 1,077 65 317 987 11,937
Debt securities 62,668 21,589 25,464 19,132 13,388 7,317 2,302 151,859
Central banks - - - - - 2,504 16 2,519
General governments 50,877 13,571 22,199 11,373 11,760 2,330 321 112,432
Credit institutions 3,123 2,706 419 92 1,450 1,183 999 9,971
Other financial corporations 8,352 1,818 536 4,606 26 311 425 16,074
Non-financial corporations 317 3,494 2,309 3,061 152 990 541 10,864
Loans and advances 196,141 38,270 56,668 64,410 63,277 55,663 5,751 480,180
Central banks - 911 - 2,900 7,281 6,737 - 17,830
General governments 23,549 580 8,241 4,443 271 1,318 209 38,611
Credit institutions 3,914 14,032 4,825 2,833 1,744 1,064 1,017 29,429
Other financial corporations 3,946 4,215 1,824 1,483 1,820 811 270 14,368
Non-financial corporations 59,576 14,132 17,525 32,605 33,647 24,060 4,043 185,588
Households 105,157 4,400 24,252 20,147 18,514 21,673 212 194,353
Total Risk in Financial Assets 271,497 87,062 86,167 87,607 76,868 65,413 10,264 684,878
Loan commitments given 30,006 16,878 22,702 33,183 13,108 6,618 1,124 123,620
Financial guarantees given 1,524 4,736 161 949 9,126 2,087 593 19,176
Other Commitments given 16,866 14,646 327 3,409 2,527 3,822 1,216 42,813
Off-balance sheet exposures 48,396 36,260 23,191 37,541 24,762 12,527 2,933 185,609
Total Risks in Financial Instruments 319,893 123,321 109,357 125,148 101,630 77,940 13,197 870,487
  • (*) Equity instruments are shown net of valuation adjustment.

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The breakdown of the main figures in the most significant foreign currencies in the accompanying consolidated balance sheets is set forth in Appendix VII.

The breakdown of loans and advances in the heading of Loans and receivables, impaired by geographical area as of December 31, 2017, 2016 and 2015 is as follows:

Impaired Financial Assets by geographic area (Millions of euros)

December 2017 December 2016 December 2015
Spain 13,318 16,812 19,921
Rest of Europe 549 704 790
Mexico 1,124 1,152 1,277
South America 1,468 1,589 1,162
The United States 631 975 579
Turkey 2,311 1,693 1,628
Rest of the world - - -
IMPAIRED RISKS 19,401 22,925 23,358

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APPENDIX XIII Information in accordance with Article 89 of Directive 2013/36/EU of the European Parliament and its application to Spanish Law through Law 10/2014

December 31, 2017 (Millions of euros)

Country CIT payments cash basis CIT expense consol PBT consol Turnover Nº Employees (*) Activity Main Entity
Mexico 795 798 2,946 6,943 36,637 Finance, banking and insurance services and real estate BBVA Bancomer SA
Spain 454 137 (856) 6,396 29,744 Finance, banking and insurance services and real estate BBVA SA
Turkey 354 426 1,902 3,736 21,031 Finance, banking and insurance services Turkiye Garanti Bankasi
United States (***) 154 274 805 2,901 10,614 Finance and banking services Compass Bank, Inc.
Colombia 101 86 299 1,005 6,525 Finance, banking and insurance services BBVA Colombia SA
Argentina 51 89 443 1,186 5,708 Finance, banking and insurance services BBVA Banco Frances SA
Peru 151 142 528 1,124 5,951 Finance and banking services BBVA Banco Continental SA
Venezuela 3 20 12 70 4,147 Finance, banking and insurance services BBVA Banco Provincial SA
Chile 99 66 317 789 4,848 Finance, banking and insurance services BBVA Chile SA
Romania 2 2 35 112 1,255 Finance and banking services Garanti Bank SA
Uruguay 25 10 35 152 592 Finance and banking services BBVA Uruguay SA
Portugal 5 31 42 108 472 Finance and banking services BBVA Portugal SA
Paraguay 6 4 35 86 446 Finance and banking services BBVA Paraguay SA
Bolivia 2 2 7 25 379 Pensions BBVA Previsión AFP SA
Netherlands 2 13 48 98 242 Finance and banking services Garantibank International NV
Switzerland 3 2 7 39 121 Finance and banking services BBVA -Switzerland SA
Finland - - (8) 1 39 Financial services Holvi Payment Service OY
Ireland 2 - 11 17 4 Finance, banking and insurance services BBVA Ireland PCL
Brasil - 1 4 5 6 Finance and banking services BBVA Brasil Banco de Investimento, S,A,
Curaçao - - 2 5 12 Finance and banking services Banco Provincial Overseas NV
United Kingdom 1 18 44 90 125 Financial services BBVA -Sucursal de Londres
Hong Kong - - 16 46 85 Financial services BBVA -Sucursal de Hong-Kong
France 15 9 36 58 72 Financial services BBVA -Sucursal de Paris
Italy 4 15 43 56 56 Financial services BBVA -Sucursal de Roma
Germany 25 13 29 47 44 Financial services BBVA -Sucursal de Frankfurt
Belgium - - (1) 6 27 Financial services BBVA -Sucursal de Bruselas
China - - (2) 1 17 Financial services BBVA -Sucursal de Shanghai
Korea - - (1) - - Financial services BBVA -Sucursal de Seúl
Singapore 1 1 5 7 8 Financial services BBVA -Sucursal de Singapur
Japan - - (4) (2) 3 Financial services BBVA -Sucursal de Tokio
Taiwan - (1) (4) (1) 9 Financial services BBVA -Sucursal de Taipei
Luxembourg (**) 2 - (1) 2 3 Financial services Garanti -Sucursal de Luxemburgo
Cyprus (**) 2 4 17 21 73 Banking services Garanti -Sucursal de Nicosia
Malta (**) 2 6 140 141 14 Financial services Garanti -Sucursal de la Valeta
Poland - 1 - - - Real estate Geskat Polska SP. ZOO
Total 2,261 2,169 6,931 25,270 129,309
  • (*) Full time employees. The 15 employees of representative offices are not included in the total number.
  • (**) Figures from Garanti's branches in Malta, Chipre and Luxembourg are also taxed in Turkey.
  • (***) Including the figures from the Cayman Islands branch.

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